AMZN Eyeing Breakout Toward $279-$293?Amazon.com, Inc.BATS:AMZNadv567ecAMZN Holding Rising Channel Support, Eyeing Breakout Toward $279-$293 AMZN remains in a well-defined ascending channel on the daily timeframe and continues to trade above the rising trendline support. After the recent pullback, buyers stepped in near the lower boundary of the channel and defended the $260-$264 support zone. Price is now consolidating just below a significant resistance cluster between $273 and $279. A decisive breakout above this area could open the door to a retest of $293.40, which represents the next major upside target. On the downside, traders should monitor $264.21, $262.49, and $255.19 as key support levels. As long as AMZN remains above the rising channel support and continues to make higher lows, the intermediate-term trend remains constructive. Bullish scenario: Break and hold above $275.83-$278.80 targeting $293.40. Bearish scenario: Loss of channel support could trigger a move back toward $255 and potentially the major support area near $254. The chart currently favors the bulls because: Price remains above the rising trendline. Higher lows are still intact. The 200 EMA (green line) is trending upward and remains well below price. Recent consolidation appears more like a pause within an uptrend rather than a reversal. The key test is whether buyers can clear $275-$279. If that happens, $293.40 becomes a realistic near-term target. If rejected, expect additional consolidation between $260 and $275 before the next directional move. Not a financial advice.