Amazon: Is This Pullback Starting to Offer Some Short-Term ValueAmazon.com, Inc.BATS:AMZNDukesMarketAnalysisBreakout Area Comes Back Into Play AMZN has pulled back into the important $258 breakout area after failing to build on the recent push higher. From a technical perspective, this is a much more interesting place to watch than chasing price near the highs. EMAs Add Further Confluence The bullishly crossed 100/50-day EMAs sit directly beneath price, with the pullback now testing that area as well. As long as buyers continue to defend both the breakout level and the rising averages, the broader recovery structure remains constructive. Pullback Lacks Heavy Selling Pressure Volume has declined as price has retraced, suggesting sellers are not currently showing strong conviction. That helps support the idea that this move may be more of a healthy reset than the start of a deeper breakdown. Momentum Has Cooled RSI is chopping around the 50 level, while StochRSI is beginning to rise out of oversold territory. This suggests much of the short-term excess has already been worked off, although bulls still need price to respond. In Summary Amazon’s pullback is beginning to bring the stock back into a more interesting short-term area, with price testing the $258 breakout zone and the bullishly crossed 100/50-day EMAs at the same time. Declining volume on the retracement and a reset in momentum are also encouraging. If buyers continue to defend this area, the recent weakness may prove to be a healthy reset, with the $267.56 high becoming the next level bulls need to reclaim.