AMZN: Amazon Stock Hits Wall at $238 After 4 Failed Breakout Attempts

Amazon’s stock price has been butting heads with the $238 resistance level, and it’s not going well for the bulls. The chart shows at least four separate times where the price tried to punch through this ceiling and got shut down. Every time buyers pushed higher, sellers came in strong, creating a brick wall that’s keeping Amazon stuck below this critical price point.

The stock is basically stuck in a box right now. The ceiling sits around $237-$238, while the floor has been holding somewhere between $214-$216. After a decent rally earlier, momentum has completely fizzled out. Recent candles show indecision more than anything else. The repeated failures at $238 have prevented Amazon from breaking into higher territory, leaving it exposed to another leg down if buyers don’t show up with real conviction.

“The chart shows at least four clear rejections at this level, confirming it as a significant technical barrier,” according to the analysis.

Trading in the mid-$220s puts Amazon right in the middle of this consolidation zone. Looking at past price movement, whenever the stock got rejected from resistance, it usually ended up sliding back toward the $210 area. Without a clean break above $238, the technical picture stays murky. The lack of follow-through tells us bulls haven’t regained control of this trend yet.

This matters more than usual because Amazon carries serious weight in major market indexes and often signals where big growth stocks are headed. A real breakout above $238 would flip sentiment and likely spark a meaningful rally. But if this resistance keeps holding, downside risk stays very much alive, with a return trip toward lower support levels remaining a real possibility.

My Take: Until Amazon can actually hold above $238, this is just noise. The repeated rejections show sellers aren’t backing down, and the mid-range chop suggests nobody’s really in control. Watch for a decisive break either way before making moves.

Source: BRITT