Slight concerns arise as the technical indicators continue to falter

Amazon closed last week at around $180.98 a share. What seems like may be happening is a small double top, which has led to the recent price stall. With last week being the second consecutive down week, the chances of a pullback toward the upper trendline support are now increased. The support along the upper trendline reads $172.50, consolidation around this level may lead to a re-build of momentum for a continuation higher. This would prompt then bulls to then target the $180 mark and then the $190 once again. A clear break with a close above $190 would create a psychological resistance level of $200. However, a break below the trendline support would create concerns in the near term. Investors still have the support at $165-$166, and this would first need destroying before any further potential downside. With the potential double top for the shorter term, the technical indicators add to some of the concerns. The MACD has turned negative and the RSI is now starting to falter, it reads 61 as it declines.