TradingKey – Amazon (NASDAQ: AMZN) is trading at $232.69, up +2.50% on heavy volume as it recovered from the 0.618 Fibonacci retracement level at $229.64 and an ascending black trendline. First-quarter 2026 earnings, released on April 29, saw Amazon set several records at once: net sales of $181.5 billion, a 17% year-over-year rise; AWS revenue of $37.6 billion, up 28%, the fastest growth rate in 15 quarters on a $150 billion annualised base; and $23.9 billion in operating income, at 13.1% margin, an all-time high for the company, according to CEO Andy Jassy.

The RSI at 39 is in neutral territory and should have plenty of room to run in the near future, and there is no sign of a bearish divergence. Second-quarter sales guidance is $194 to…