Amazon shares hit all-time highs for the third day in a row

• Amazon (AMZN) is up 2.94% today, hitting a new all-time high of $107.86.
• Amazon Web Services has launched new artificial intelligence servers, integrating chips developed by the company.

Amazon shares hit a daily low of $220.60, attracting aggressive buyers that pushed the stock price to a new all-time high of $227.15. AMZN is currently trading at $227.04, gaining 2.94% today, setting all-time highs for the third day in a row.

Amazon records new all-time highs after launching new servers with artificial intelligence

Leading e-commerce and cloud computing services company Amazon ( AMZN ) announced the release of new servers equipped with its artificial intelligence chips. These innovations have pleased investors, reflecting their confidence in a six-session rally in a row, of which the last three sessions have set all-time highs, the most recent at $227.15, reached today.

The company beat earnings estimates in its latest financial report, posting revenue of $158.9 billion, above estimates of $157.25 billion, as well as earnings per share of $1.43 versus estimates of $1.14. Its next report is due on January 29, 2025.

Technical levels at Amazon

AMZN shares rebounded higher from short-term support provided by the Nov. 21 low at $195.75. We see the next major support at 180.25, the key point of October 7. On the upside, we project profit taking in the 250.00 area, a closed number that converges to the 1.216 Fibonacci extension.

AMZN 4-hour chart