Amazon (AMZN) last hit an all-time high on February 4. Two days later, the company reported after the closure that the release received bad praise. The stock is now trading for the third time in the last four trading courses. Although it’s only been a few days, that’s not what many investors hope for, especially the stocks have done well lately. In fact, AMZN rose nearly 60% from its lows to its latest highest level in August 2024. From this perspective, stocks are allowed to breathe for any reason. Of course, the question now is what will happen next? Well, if there are any signs in the past 15 months, there is a good chance that the stock will rally again: AMZN has performed well shortly after its issuance earnings since October 2023. Time, once the rally begins, it won’t approach the low on the earnings release date. To do this, it will happen again soon, and seeing the stock approach its 50-day moving average will be a good first step. This is because the 50-day line has been backed over the past few months, with the stock bounced around 50-DMA. Currently, the 50-day line is 227 a day and is rising every day. Another important feature of strong running in recent months in the past few months is that AMZN’s 14-day RSI bottom is about 50 close to the midpoint of its range. Between the midpoint and overly high territory, the indicator continues to oscillate, indicating that the momentum is still supported. This indicates that dipping sauce is still being purchased. Immersive sales are what keeps the uptrend alive in recent months. Of course, AMZN is one of the largest companies in the world. It has also been one of the best performing stocks in the world over the past 25 years. However, AMZN endured periods of underperforming along the way. Recently, the stock was from August 2021 to October 2024. Finally cleared the highest point in November this year. So while stocks have been rallying since January 2023, they have been ridding from years of bullish patterns in just four months. As the long-term chart shows, the subsequent expansion sometimes lasts longer once the AMZN is powered through previous multiple months (or years) digestive phases. It’s different every time, but if AMZN bids again after a low income reaction, it will have a chance to create an all-time high…and then some. Finally, AMZN’s recent comeback has enhanced its relative performance to the MAGS ETF, with its members being members. Given recent performance differences between MAGS components, the newly discovered strength of AMZN has been a key factor in keeping ETFs floating. Maintaining this momentum is crucial to retaining the overall ability of large stocks to grow their stocks. – Frank Cappelleri Founder: https://cappthesis.com Disclosure: (Owned AMZN) All opinions expressed by CNBC Pro contributors are their opinions only and do not reflect CNBC, NBC, NBC Universal, their parent company or branch office The opinions may have been previously communicated on TV, radio, the Internet or other media. The above is subject to our terms, conditions and privacy policies. This content is for informational purposes only and does not constitute financial, investment, taxation or legal advice or advice on purchasing any guarantee or other financial assets. The content is general in nature and does not reflect any individual’s unique personal situation. The above may not be suitable for your specific situation. You should strongly consider seeking advice from your own financial or investment advisor before making any financial decisions. Click here for the full disclaimer.
According to the chart, Amazon prepares for another comeback | Real Time Headlines
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