Amazon.com (AMZN) fell below key support levels after breaking down from a double top pattern, hitting a low near $247.71. This decline tested the 38.2% Fibonacci retracement and the 50-day moving average, but the stock closed weak without bullish signs. While the long-term uptrend remains intact, failure to hold the 50-day support could lead to a deeper pullback toward the 200-day moving average and lower Fibonacci levels around $229.60. Investors should watch resistance near $255–$258 and short-term weakness as the 20-day moving average declines.
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