005. Piggish Play - Long AMZN to 2750+NASDAQ:AMZN
AMZN's last earnings report is nothing short of unbelievable, in my opinion.
How does the world's greatest growth-turned-cash-cow crank out revenue numbers like 40%? The answer is partially the virus, but more importantly, AWS is exploding. I'm not going to sell you on Amazon because it's Amazon (the potential GOAT of stocks). What I am suggesting is that the company is now a growth-turned-cash cow-turned-growth cow.
I've never actually seen a Growth Cow before and I'm pretty familiar with all the financial animals. If you agree that AMZN is the GOAT as well, that would make it a growth-cow-goat. To make things simpler, the price is likely to go higher in a short period of time.
Technically speaking, Waves I. and II. are wholeheartedly locked in, so Wave III. should yield incredible results. Further technicals suggest that the RSI is ripe for an entry with solid support levels to boot.
Fundamentally speaking, Amazon is becoming something entirely new and analysts other than myself are recognizing it. Many agree that 3,000 is fair value, while the new consensus is around 2800. Both numbers would be just fine if they were to come into view this month.
The details of the trade can be found in the chart and I would suggest entering now-ish.
-Perma Pig-san
