Amazon (AMZN) Updates

Amazon.com (AMZN) Updates

An important gap was the one that marked the day of July 30, when Amazon (AMZN) opened with a -7% and then touched even a -11% in the following days.

Good but not great earnings, but above all forecasts for the next lower than expected Earnings, led to a rather violent sell-off after the price broke the resistance of $ 3553.22 on July 6.

The price has not yet recovered, on the contrary, it has continued to fall below the SMA200 to more “stop” on the POC in the 3198.95 area.

Currently, there are no signs of recovery, even considering the last two trading days, candles of indecision.

Volumetrically, the best entry-level is around $ 2920, but more realistically, $ 3000 is a great entry-level.

In reality, we are already on an interesting level, in terms of volume, and the stock has already “discounted” 11% from the highs of July.

Basically, I don’t think this is the beginning of a big negative trend, the company is too solid, the services are increasingly excellent and the future prospects, albeit slightly downsizing in terms of EPS, remain excellent.

I, therefore, believe that this is an opportunity to accumulate, especially for those who, like me, have an excellent average purchase price.

Summarizing entry levels:

current (3199)
3000
2920

Targets:

3553 returns to being a good level of TP
3720

 

As always you can find my profit and losses… follow me!

Lazy Bull
saveandinvest.press

 

 

DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

Lazy Bull
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