Amid elevated AI-related capital investment and evolving cloud growth expectations, alongside broader rotation away from Internet equities, Amazon’s recent and material deterioration in relative strength is unfolding against a clear fundamental backdrop.
Amazon entered the Neutral zone with a RED SMAX Score on November 20, 2025 at $217.14 and most recently closed at $198.79, representing a -9.2% return since entering the Neutral zone. The stock currently carries an SIA SMAX Score of 0 out of 10, reflecting weak alignment across SIA technical and relative strength measures. The Internet sector remains unfavoured within the SIA Sector Report, reinforcing the broader relative headwind.
Amazon appears in the SIA S&P 500 Index Report, where it is currently positioned at 401, having moved down 313 spots over the past quarter, indicating significant deterioration in relative standing.
From a technical perspective, 3-box reversal resistance is identified at $217.56, with additional resistance in the $240.21 to $245.01 area. On the downside, initial support is identified at $189.40, followed by additional support at $168.18. The most recent point and figure signal is a bearish spread triple bottom, which may suggest continued pressure if prevailing conditions remain intact.
Performance metrics show monthly and quarterly returns of -18.06% and -16.33%, respectively. By comparison, the S&P 500 Index (EWIIVV) recorded monthly and quarterly returns of 2.43% and 8.30%, highlighting material relative underperformance over both measured periods.
Amazon.com, Inc. operates across e-commerce, cloud computing, digital advertising, streaming services, and artificial intelligence initiatives. As one of the widely referenced “Magnificent 7” companies, its performance may continue to be influenced by consumer demand trends, enterprise cloud spending, competitive dynamics, capital allocation decisions, and broader market conditions.
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