Support Zone That Works Both Ways, With AWS Accelerating UnderneAmazon.com, Inc.BATS:AMZNCedric_InvestsSetup: AMZN is at $258.63, sitting on the $253-258 zone with the 21 SMA sitting inside it. What makes this level worth watching is that it has worked in both directions. Price was rejected from above in November 2025 and again in July 2026, then held it as support in May and again in August. A level that flips polarity and keeps mattering is stronger evidence than repeated touches from one side. Why the fundamentals support this: ✅ Q2 net sales $200.6B, up 20%, first quarter ever above $200B ✅ AWS revenue $42.2B, up 36.7%, the fastest growth in 18 quarters ✅ AWS growth has now accelerated five quarters in a row ✅ AWS operating income $16.6B, up 63%, margin at 39% ✅ AWS backlog of $496B, growing triple digits ✅ Total operating income $27.5B, up 43%, consolidated margin 13.7% from 11.4% ✅ Market cap crossed $3 trillion after the print The gap worth watching: The stock jumped roughly 15% on those numbers to $288, then gave almost all of it back. Nothing about the business changed in between. What changed was the tape, with rising Treasury yields and dilution fears across the AI infrastructure complex dragging on anything tied to that theme. Q3 guidance of $197-202B implies 9-12% growth, down from 20%. That deceleration is in the headline number rather than in AWS, which is the part that matters, but it is the number the market will quote. Bias: Long above the zone. $253-258 is the line. Holding it keeps the structure intact and puts $288 back in play. A close below opens $238, the 200 SMA. Invalidation: A fat daily close below $250. Timeframe: Multi-week. There is no dated catalyst here, since AMZN has already reported. This one resolves on the level rather than an event, which makes it slower but cleaner.