Shares of Amazon have been under pressure, and the charts are pointing to more downside, according to one technical strategist.

The stock posted its first negative week after five-straight weeks of gains, its longest winning streak since March.

Despite the impressive streak, Amazon is showing signs of short-term exhaustion around Black Friday, and a further near-term pullback is likely, said Katie Stockton, chief technical strategist at BTIG. Her analysis follows a bullish breakout in late October.

“We’re really viewing the pullback as something that should be short lived, but should persist in the days ahead just based on the proximity of support on the chart, which is a bit lower based on the breakout point,” Stockton said Friday on CNBC’s “Trading Nation.”

David Seaburg, head of sales and trading at Cowen, agrees that Amazon shares have indeed been “fatigued” lately, but said the broader picture is positive for the stock, which has advanced 55 percent this year.

“Last quarter they reported and they really show that their investment … is actually producing some top-line results, so people are really comfortable with the investments they’re making, and I think the long-term story is absolutely intact,” he said.

Amazon shares fell a little over 1 percent on Friday. They were up 0.6 percent in Monday’s premarket.