Artem Voloskovets
Amazon's stock has been quietly building momentum for months, and this week it finally broke loose. After shaking off a multi-week downtrend, AMZN surged to an all-time closing high—and it didn't do it quietly. The move came with the biggest weekly volume spike since 2022, a sign that institutional money is piling back in.
The Technical Breakout
According to data platform Trend Spider, when record prices meet record volume, it's usually not a fluke—it's the real deal.
The weekly chart shows a textbook cup-and-handle pattern, one of the more reliable bullish setups in technical analysis:
- The cup formed between November 2024 and May 2025 as Amazon consolidated
- The handle was a shallow pullback through October
- The breakout came this week, blasting through resistance around $220–$225 and closing near $244
Volume tells the story here—there's a thick cluster of past trading between $200 and $220, which now acts as solid support. Above current levels, the path toward $250 looks wide open. The TTM Squeeze indicator also flipped from neutral to expansion mode, confirming that momentum is building.
What's Fueling the Rally?
Amazon's fundamentals are firing on all cylinders. AWS revenue is accelerating, advertising is booming, and the company's AI investments are starting to pay off. Margins are improving thanks to better logistics efficiency, and Wall Street is increasingly viewing Amazon as both a growth play and an infrastructure bet—especially as it becomes a key player in the AI arms race.
The next test is around $245–$250. If Amazon can push through and hold, targets of $260–$270 are definitely in play over the next few months. Even a pullback to $230–$235 wouldn't hurt the bullish case—it might just give latecomers a second chance to get in.
Bottom line: this isn't just another all-time high. With volume surging and the technical setup fully aligned, Amazon looks like it's entering its strongest uptrend since the 2020–2021 rally. If this momentum holds, it could set the tone for the entire tech sector heading into 2026.
Artem Voloskovets
