Will Amazon Stock Break $200 Soon? Market Expert Sees ‘Stiff Resistance’

On Stocktwits, the ticker was among the top 30 most active stocks, with message volume climbing higher into ‘normal’ levels as of 10 a.m. ET.

Several ‘bullish’ retail investors expressed optimism that the stock might hit $200, a closing level unseen since mid-July.

Morgan Stanley analyst on Monday Brian Nowak raised the firm’s price target on Amazon to $230 from $210, indicating a potential 17% upside from current levels, while maintaining an ‘Overweight’ rating.

The brokerage increased its FY25 and FY26 EBIT forecasts by 10% and 6%, respectively, citing lower costs offsetting reduced merchandise margins due to a shift toward lower-priced essentials.

However, there are significant hurdles for Amazon bulls.

Reports indicate that Bezos planned to sell up to 25 million shares of AMZN by the end of 2025.

In March, it was revealed that during a period in July, he sold millions of shares at prices just above $200, contributing to the stock’s struggles to break through this level.

Bespoke notes that during Bezos’s selling spree in July, 80 million shares traded, but only about 5 million were above $200.

A regulatory filing from Friday indicates that Bezos filed to sell 16,354,620 shares of Amazon on November 1.

"For now, it looks like $200 is going to remain a stiff resistance until the Bezos shares clear," Bespoke said.

Amazon stock has risen approximately 30% so far this year, outperforming the benchmark S&P 500 and Nasdaq indices.