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Yeah it closed above resistance @ $3,420 or so. The algos look like they moved the posts now. That’s what I was saying if it closes above $3,410 it’s cleared for take off. There is no significant turbulence above this level.
The only catch is earnings if it’s great news this thing is going straight to the sky. The thing is though GOOG reported and they appear to be taking share in the cloud. MSFT had a good report however it’s down over these concerns and it may also weigh on AMZN. As a side note maybe a good entry to MSFT here for those that missed the bus.
If the AWS numbers are strong it breaks it’s all time high without any question. Then it will go back into hibernation later in the summer like it always seems to. A stock split would be a nice sugar high. A large percentage of the time when companies split they go up in anticipation. Conversely they go down a majority of the time right after the split.
It's going to take an earnings disappointment to break it this time. Coming into earnings trading above previous long-term resistance is a good setup. Good report and it's next plateau in short order.
It's going to take an earnings disappointment to break it this time. Coming into earnings trading above previous long-term resistance is a good setup. Good report and it's next plateau in short order.
I could see it trying to break $4,000 soon if earnings are stellar. Good time to split it and get a bunch of kids thinking it suddenly got cheap.
I don't worry about AMZN daily, weekly, or monthly moves.
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