Is The Rally In Amazon Stock About To End?

Over the past week, shares of Amazon.com, Inc. AMZN have made a significant move higher, having gained almost $200.

But the rally may be about to end.

Since October, each time Amazon's stock reached levels around $3,430. it ran into resistance. There was a wall of sellers that halted the rally and then drove the shares lower.

Markets have memories, which means certain levels can retain their importance for long periods of time. There is a good chance there are still sellers who think $3,430 is a good price to sell at. They could put a top on the shares and stop the move higher.

See Also: How To Buy Amazon Stock