Let’s go back to talking about the giant Amazon after some time.
After almost a year of sideways with rebounds ranging from $ 2880 to $ 3553, the price breaks through this strong historical resistance on July 6th. And it does it very decisively with a very large candle and large volumes.
Specifically, for those interested in more technical issues, on that day there was an unusual opening of call options, with a relatively close strike price. An important sign of the presence of institutions in that big movement.
Amazon is therefore heading towards $ 4,000 per share, and in my opinion, it could reach it within this year.
Still no split for the company, which could arrive in 2022.
From a fundamental point of view, everyone knows the solidity of Amazon, which beats record after record, increasing its turnover and EPS more and more.
The Prime service includes more and more options, at a truly unbeatable price. In the meantime, their fully electric delivery vans are also about to open in Europe.
On a chart level, after the sideways period, which characterized an important return to the SMA 200, we are in an uptrend, which began in March 2021 and confirmed precisely by the breakdown of the price level 3553.
As a target, we will only assume 3800 (recently close to), 3900, and 4000 $.
The 3553 level currently becomes an important support should the price retrace.
As with other companies, I will always keep Amazon in my portfolio, awaiting a split to further accumulate my position.
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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.