Strong underlying fundamentals could keep AMZN pumping during these times, especially with earnings coming out in just 2 weeks!
It is sitting at a strong resistance level (around 2050) that if passed could mean a breakout.
It has created higher highs and higher lows since it has previously sold off on the 2050 level, meaning a breakout is plausible.
Earnings are expected to be pretty bullish, with this being the first full earnings report to account for the high increase in online ordering and delivery since COVID-19 shutdowns. Economic predictions suggest consumers are becoming more comfortable shopping online and that online shopping is expected to increase and stay popular even after the COVID-19 shutdown, making it a strong buy for long term investors as well.
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It is sitting at a strong resistance level (around 2050) that if passed could mean a breakout.
It has created higher highs and higher lows since it has previously sold off on the 2050 level, meaning a breakout is plausible.
Earnings are expected to be pretty bullish, with this being the first full earnings report to account for the high increase in online ordering and delivery since COVID-19 shutdowns. Economic predictions suggest consumers are becoming more comfortable shopping online and that online shopping is expected to increase and stay popular even after the COVID-19 shutdown, making it a strong buy for long term investors as well.
What are your thoughts? Make sure to follow for more!
Note
WOW! Up over 6% today and first profit target reached at current resistance level.Closing out about 50% and staying in for more!
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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.