Amazon.com, Inc (AMZN) stock declined in its recent intraday trading, as it attempts to relieve its clearly overbought Stochastic conditions, especially with the early signs of a bearish crossover. This pullback may allow the stock to gather positive momentum that could support a recovery and renewed upward movement, under the influence of a short-term ascending wave and trading along a supportive trendline. The stock also remains under positive pressure from continued trading above the 50-day simple moving average, which reinforces the likelihood of a rebound.

Therefore, we expect the stock to rise in upcoming sessions, as long as support at $223.80 holds, targeting the key resistance level at $242.50.

Todays price forecast: Bullish.