Amazon Share Price Climbs Ahead of Earnings – Will $200 Resistance Hold?

Amazon.com Inc. (NASDAQ: AMZN) has seen a 16% rebound from its recent low of around $160 per share earlier this month, with the stock now trading at approximately $186.37. As the company prepares to release its Q2 earnings report tomorrow, investors are watching closely to see whether this will serve as a fresh catalyst for the stock's next move.

Technical Analysis: Key Levels to Watch

On the weekly chart, a potential head and shoulders pattern appears to be forming. If Amazon fails to break through the key resistance level at $200, this pattern could signal a possible reversal, leading to renewed selling pressure through May and into June. In such a scenario, the share price could retrace back toward the $160 support level.

Conversely, a decisive breakout above $200 may provide short-to-medium-term stability, particularly important as broader market sentiment remains sensitive to ongoing tariff and trade uncertainties.

Momentum and Indicators

The MACD (Moving Average Convergence Divergence) indicator is currently flattening, suggesting a slowdown in bullish momentum. While not yet in oversold territory, historical patterns indicate there may still be room for further downside, especially if geopolitical and economic tensions continue to weigh on global markets.

Fundamental Outlook

Amazon is expected to report earnings growth of approximately 19% year-on-year, a figure that could help solidify bullish sentiment if results beat expectations. So far in 2025, Amazon shares are up around 7% year to date, reflecting growing optimism but also leaving room for potential volatility depending on tomorrow’s earnings results.

Summary: Amazon Share Price Outlook

• Current price: ~$186.37

• Resistance level: $200

• Support level: $160

• Technical pattern: Potential head and shoulders

• MACD signal: Flattening, with room for more downside

• Projected EPS growth: 19% YoY

• YTD performance: +7%

With earnings on the horizon and technical levels in play, Amazon’s next move could help shape broader market sentiment, particularly within the tech sector. Investors should monitor both fundamental results and key resistance levels closely.