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Amazon.com Inc (AMZN): Expecting Mark Up After Breaking Out From Trading Range



Amazon Inc (AMZN): Expecting Trend Continuation

Amazon (AMZN) principle business are in e-commerce and cloud computing. Stock price consolidated recently, but recent technical indicators suggest a potential bullish trend continuation. 

Technicals:

  • Upward Momentum: The chart displays a somewhat clear upward trend with price breaking higher from recent consolidation area.
  • Indicator Strength: Relative Strength is above 0, suggesting increasing buying pressure vs broad market.

Trading Plan:

  • Entry: At current, US$230.71.
  • Stop-Loss: Below recent consolidation range, US$216.16
  • Trailing Stop 1: 10 SMA (D)
  • Trailing Stop 2: ATR (5,5) (D)
  • Target: Twice the recent consolidation range, US$249.84.

Fundamental Factors:

  • Q4 Earnings: AMZN's upcoming Q4 2024 earnings report on February 6, 2025, could provide a catalyst for the stock price. 
  • AWS Growth: Amazon Web Services (AWS) remains a key growth driver. Any positive developments in AWS could further propel AMZN's stock.


Blog Disclaimers Apply: This analysis is for informational purposes only and should not be considered investment advice. It is essential to conduct your own research and consult with a financial advisor before making any investment decisions.

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