Amazon's Remarkable Surge - A 4% Leap This Week With Momentum Charging Towards The $150 Milestone

• Amazon's stock has surged by 69% this year, making reaching the $150 milestone seem easily achievable.

Amazon.com, Inc. AMZN, the dominant force in e-commerce, has experienced remarkable growth throughout the year.

In January, the stock price remained slightly above $80, a crucial level of support that was also seen to act as support in March 2020.

This pivotal point had a significant impact on driving the stock upward, laying the foundation for subsequent gains.

January's momentum propelled the stock price to reach the highs of September 2018, coming in at $102.

Despite efforts in February and March, the stock struggled to surpass this level, emphasizing the strength of this resistance.

However, April brought a turning point as the stock not only challenged but also achieved a successful close above this formidable barrier.

One key factor in this year's stock performance was its relationship with the daily 200 simple moving average.

Initially starting below this indicator, the stock later surpassed it in May, indicating a strong bullish trend.

As predicted, the stock then experienced a significant upward movement, reaching a 40% rise before encountering resistance at $144 in August.

This resistance prompted a consolidation phase, during which the stock found support at $130 and the daily 50 simple moving average.

The stock is close to breaking through the $144 resistance level. If it successfully does, reaching $150 seems within reach. With Amazon's stock experiencing a significant 69% increase this year, the remaining 4% to reach $150 seems easily attainable.

But the journey's not over at $150. In 2022, the highest point the price reached was $171, marking a significant resistance level.

As Amazon's growth continues, experts will be closely watching to see if the stock can conquer and exceed this next milestone.

After the closing bell on Wednesday, September 13, the stock closed at $144.85, trading up by 2.61%.