Amazon Skyrockets Mid-Day with Over 10% Surge as Tech Stocks Rebound
Key Highlights:
Amazon.com Inc. (NASDAQ: AMZN) witnessed a massive surge of 10.58% as of 2:30 p.m. ET on April 9, taking the stock to $188.72. This comes after a lackluster morning session, where the stock mostly traded sideways following a weak pre-market start. The breakout began around 1 p.m., when the stock jumped sharply from the $171 zone and soared past $188.
A Technical Breakout from Consolidation Zone
Prior to this rally, Amazon had been hovering between $170–$174 levels, showing signs of consolidation. The sudden price spike broke through resistance levels established over the past week. This price action now positions AMZN as one of the strongest movers in the Nasdaq today.
Rebound in Tech Sector Adds Fuel to Fire
Amazon’s surge isn’t happening in isolation. A broader tech rebound is underway with peers like Apple, Nvidia, and Meta also posting gains. Traders appear to be rotating capital back into high-growth tech stocks following a recent pullback. The Nasdaq Composite’s strong recovery is acting as a sentiment booster.
Volume Spike and Bullish Sentiment Indicators
Analysts noted a significant spike in trading volume accompanying the breakout, further validating the move. Amazon’s 14-day RSI has now crossed 65, indicating bullish momentum, though nearing overbought levels. The current P/E ratio stands at 34.15, signaling investor confidence in Amazon’s forward earnings potential.
What’s Next for Amazon Stock?
With today’s breakout, Amazon is inching closer to key resistance near $190, and traders will be watching if it can sustain above this threshold. If momentum continues, a re-test of the 52-week high of $242.52 could be on the table in the coming weeks.
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