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.