Technical Take on AMAZON: Breaking Down?

Shares of Amazon AMZN fell below the 200 day moving average of 327.21, after two days on consolidation around that level. Shares had recently tried to break out to the upside above the resistance level at 340, only to fall back. AMZN is also trading below the 313.18 closing low of 10/23, which is a critical support level. The chart displays a large gap, with the stock trading at 284 on 10/24 following an earnings miss. If AMZN fails at these levels, it technically may look to fill in that gap and trade down below the 300 level.