Amazon Pullback Into Support: Bull Flag Reload Toward $301?Amazon.com, Inc.NASDAQ:AMZNadv567ecAmazon (AMZN) remains in a long-term bullish trend despite the recent sharp pullback from the upper portion of its rising channel. The current retracement is bringing price back into a critical support confluence zone that includes prior breakout resistance, channel support, and key moving averages. The chart shows AMZN trading within a multi-year ascending channel, with the recent rejection near $272.68 causing a pullback toward the $237.68-$247.38 support area. This zone is particularly important because it aligns with the rising median trendline and sits well above both the 100 EMA (gray) and 200 EMA (green). 100 EMA (Gray) Currently near $215.32. Continues to trend higher, confirming medium-term bullish momentum. Has acted as dynamic support during previous corrections. Price remains comfortably above the 100 EMA, indicating the pullback has not damaged the primary trend. 200 EMA (Green) Currently near $190.54. Rising steadily and maintaining a positive long-term slope. Serves as the primary institutional trend indicator. AMZN remains significantly above the 200 EMA, confirming that the long-term bull market structure remains intact. The fact that both EMAs are rising and widely separated from current price suggests this move is a correction within an uptrend rather than the beginning of a major bearish reversal. Resistance $247.38 – Near-term resistance $272.68 – Major breakout level $278.56 – Channel resistance $301.02 – Primary upside target $312.74 – Extended bullish target $327.39 – Long-term channel objective Support $241.54 – Immediate support $237.68 – Critical support zone $227.54 – Secondary support $215.32 – 100 EMA support $196.00 – Major structural support $190.54 – 200 EMA support Bullish Scenario If buyers defend the $237.68-$241.54 zone, AMZN could establish a higher low within the channel and begin another advance toward $272.68. A breakout above that level would likely target $301.02, representing approximately a 28% measured move from the support zone. Bearish Scenario A weekly close below $237.68 would increase the probability of a deeper retracement toward $227.54 and potentially the rising 100 EMA near $215. Even such a move would still leave the broader uptrend intact while price remains above the 200 EMA. Trading Thesis The weekly trend remains bullish as AMZN continues to trade: Above the rising channel support. Above the 100 EMA. Above the 200 EMA. Within a long-term pattern of higher highs and higher lows. The current decline appears to be a retest of support rather than a breakdown. As long as the stock holds above $237.68, the path of least resistance remains higher, with $301.02 as the primary bullish objective and $312.74-$327.39 as potential extended targets.