Amazon shares surged 4.98% to $262.45 on Oct. 20, according to market data sourced from the exchange via Yahoo Finance, with trading volume running 1.5 times its 20-session average. The move was about twice the stock’s average daily range, measured by ATR, putting the price at the top of its recent trading range. That combination makes the advance notable—but also leaves little room before the nearest stated resistance.

The signals are mixed rather than decisive. Buying participation strengthened, and momentum indicators are positive, while the price is pressing against the upper Bollinger Band and the Stochastic oscillator is overbought. The distinction matters: an overbought reading can flag a stretched short-term move, but it…