Amazon Looking For Its First Close Above $1,900

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Amazon.com Inc. (NASDAQ: AMZN)

 

Shares of Amazon are in the hunt for their first close above $1,900 per share. The stock had a strong rally this morning with prices reaching highs of $1,925 before retracing back towards lows.

amazon stock chart

$AMZN has never closed above this pivotal level and will be a key indication of how strong the stock is. Shares have run up over 5% since releasing earnings on July 27th. If prices can hold and consolidate over $1,900 then we will likely see a run up to $2,000.

So far, shares of $AMZN are up over 60% on the year while the S&P 500 is up only 5.5%.

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