Setup remains, trendline support holding out

Amazon gearing up to re-test this all-time high resistance of $191.68. We can see after briefly reaching the ATH profit-taking took place, leading to a slight pullback. This has allowed AMZN to now consolidate with June looking to finish on a positive. Currently, its shares are sitting around $187.60 in the pre-market trade and up 0.7% for the time being. With the resistance only 2% away, we may see a test of this before the weekend begins. However, inflation data is likely to impact this in one way or another. As already mentioned, the primary price level in the limelight is $191.68. A break above this would see ATHs once again, with no resistance above $191-$192 a psychological level for traders/investors would be $200 a share. The support, going into PCE Friday, is along the ascending trendline of the triangle drawn on the chart. Right now, it reads around $184.80. A move below it would not necessarily fade the momentum as there is support around $181.22. If the stock can uphold above $180 near-term then bulls should remain in charge here. The technical indicators could be positioned better but they are certainly in the bullish zone. The MACD is above its signal line and the RSI has now turned positive as it reads 57.