Amazon Stock Bounces Back? Here's the Technical Setup

AMZN dropped 8.8% this week, but a hammer candlestick pattern just formed—classic sign of sellers running out of ammo. Here's what caught traders' attention:

**The Chart Story**: After drilling lower, AMZN found support and bounced back to close near open. That's textbook hammer pattern behavior—bearish pressure exhausted, bulls regaining control.

**Wall Street's Take**: Analysts just hiked AMZN's 2025 EPS estimates up 5% in 30 days. That's not noise—it signals improving confidence on fundamentals. The stock currently carries a Zacks Rank #2 (Buy), placing it in the top 20% of ranked stocks.

**Why It Matters**: Technical reversal patterns work best when backed by earnings momentum. AMZN has both right now—chart showing bottom formation + analyst estimates accelerating upward.

Of course, hammer patterns aren't guaranteed wins. They work best as part of a broader bullish confluence, not in isolation.