Amazon's stock is up against a key resistance level as it faces a potential return to $2,000 a share.
Amazon's stock is up against a key resistance level as it tries to rally back to record highs, and one technical analyst says the odds are in favor of Amazon breaking that barrier.
That, combined with Amazon's stock pushing above its 100-day moving average, should create the necessary momentum to send shares soaring, possibly even back to the monumental $2,000 level they first grazed in August, Wald said. Technicians often use stocks' long-term moving averages as indicators for where prices are headed.
Chantico Global CEO Gina Sanchez said that while broad-based pressure on cloud stocks was partly to blame for Amazon's recent underperformance, the cloud could also be the stock's saving grace.
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