Amazon Cloud Exceeds Expectations, AI Demand Boosts Shares

Amazon's cloud revenue exceeded expectations and artificial intelligence demand remains robust, creating a positive catalyst for the stock. Technical indicators also support this optimism: the RSI at 65.6 is not yet in overbought territory, the MACD line is above the signal line and in positive territory, and the price is trading above both the 20-day and 50-day moving averages. The 2.5% rise in the last 24 hours indicates continued momentum. However, the RSI approaching the 70 level could trigger some profit-taking in the short term, which may limit the pace of the rally.

GOOGL shares could move higher in the short term, supported by Amazon's cloud revenue exceeding expectations and rising AI demand positively impacting the sector. Technical indicators also back this view: the RSI at 69 is approaching overbought territory but is not yet overbought, while the MACD remains above its signal line and maintains an upward trend. The stock is trading above its 20- and 50-day moving averages and has gained 2.47% in the last 24 hours. However, the elevated RSI level also brings a risk of a short-term correction, so the upside expectation should be approached with cautious optimism.