AMAZON.COM INC. - Has a Pause of The Aggressive Bullish Run - Next Level to Watch - 07/11/2017 (GMT)

Amazon.com Inc. (Nasdaq: AMZN) is an American electronic commerce and cloud computing company that was founded on July 5, 1994. The stock price is developing within an aggressive ascending move for almost three years. During the previous monthly period, the price posted a fresh all time-high at $1016.05. Going to the daily timeframe, the price completed the fourth consecutive bullish and jumped above the 50-SMA. Yesterday’s trading session opened with a gap-up and is now approaching again the new high.

In addition, the price hit the 23.6% Fibonacci retracement level (high at $1016.05 and low at $710.00) and now is moving upwards after the sideways rally. The RSI indicator is pointing to the upside following the bounce off in the negative territory whilst the stochastic oscillator is moving towards the overbought zone.