Chart of the Day: AMZN

Amazon shares are under pressure as investors reassess big-tech capital spending after Alphabet and Tesla signaled higher capex in earnings. Schwab’s Ben Watson highlighted a short-term head-and-shoulders pattern on Amazon’s 10-day/30-minute chart, with a neckline near 244 and implied downside toward 230 if the breakdown continues. On the longer-term chart, he noted volatile post-earnings moves, including a February gap down, a rebound gap up, and a double top near 280. Watson said Amazon could be forming an inverted cup-and-handle with support/neckline in the 230-225 area; a further earnings-related miss could break that zone, push the stock below the 200-day moving average, and open a move toward 195 support. Overall, the piece is a technical warning rather than a fundamental call, with sentiment skewing bearish on near-term price action.