Amazon – Technical Analysis – $AMZN

On May 7, Amazon reached the minimum target we set in February, rewarding investors with a 33% gain. The next question is whether this move has already delivered its main objective, or whether AMZN still has room to extend higher. Amazon’s significance goes far beyond its own chart. As a heavyweight component of both the S&P 500 and the Nasdaq, its price action can meaningfully influence index momentum, market breadth, and overall risk appetite, making these signals relevant not only for AMZN holders, but for the broader market as well. Flag Amazon has completed an impressive ride, reaching the minimum target and rewarding those who followed the February call with a 33% gain. However, there is good reason to remain cautious about further upside, as the larger wave structure and several recent signals now call for a closer reassessment. Ending Diagonal There is a high probability that Amazon has completed…