Shares of Inc. (NASDAQ: AMZN) surged 2.0% in Thursday afternoon trading, pushing it above the 50-day moving average (MA), which many analysts see as a short-term trend indicator. This has happened for the first time since April 19. The 50-day MA was $114.65 on Thursday, the lowest reading since June 4, 2020, according to FactSet.

Shares of the e-commerce giant briefly traded above the 50 MA on Wednesday but closed lower. While this is an encouraging short-term trend development, the 50 MA and the stock price itself are still well below the 200-day moving average, which many technicals see as the dividing line between long-term uptrends and downtrends. It is currently at $150.45.