If you have been waiting for an opportunity to buy into AMZN, it may be just around the corner. The stock has been consolidating for some time into an ever-tightening triangular range with a recent attempt at breaking to the upside. If it closes above the trend line, I have marked possible price targets for the next 12-18 months.
Trade active
The next stop will be 2000/2050 with some resistance around the 1950 area. Again as in my other posts, use caution over the next few weeks to protect profit/capital with news coming from Iran/Iraq. Even with a pullback to 1821 (which is unlikely) more likely 1870, earnings for this lastest holiday season is coming up, and you want to hold for that trust me.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.