Technical analysis by Alchemy Markets about Symbol AMZNX on 10/29/2025

Amazon reports earnings tomorrow, and expectations look well-balanced. Fundamentally, the base case suggests in-line results near guidance — roughly $177–$178B revenue and ~$18B operating income. AWS growth likely holds steady around 17–18% YoY, and Ads should remain strong but may decelerate slightly. Technically, AMZN appears to be trading within a descending channel after forming a major value area between $210–$245. A pullback toward the lower bound ($205–$210) or the point of control from the previous leg could offer a solid re-entry zone before continuation toward the $260+ region later in Q4–Q1 2026. If earnings are solid but not spectacular, this measured correction fits the current market structure—absorbing supply before the next expansion phase. Watch for volume confirmation at support to validate the next swing higher. Key Levels: Support: $205–$210 (POC / lower channel) Resistance: $240–$245 Target: $260+ Bias: Neutral-to-bullish | Base Case Scenario