Peter Smith
⬤ Amazon shares are showing renewed strength at the start of 2026 after reclaiming an important price zone on the daily chart. The stock has recovered from late-December weakness and is now consolidating above former resistance levels as short-term momentum improves.
⬤ The $237 level has emerged as a critical reference point for the current structure. The chart shows AMZN trading near $241 after pushing above this area, which previously capped upside during November and December. Holding above $237 suggests the stock has shifted into a more constructive technical phase after a period of consolidation.
⬤ The recent advance followed a brief downward channel throughout December, marked by lower highs and lower lows. That pattern has now resolved, with price rotating higher and forming higher lows. The rebound from the $225–$228 area provided the foundation for the move, while recent candles show steady follow-through rather than sharp volatility.
⬤ This setup matters for broader market sentiment, as Amazon remains a major component of large-cap technology benchmarks. Continued stability above $237 would support confidence in the upward trend and reinforce positive momentum across the sector. A failure to hold this zone could signal a return to range-bound conditions, with price behavior around this level likely to influence near-term expectations across the wider equity market.
Peter Smith
