Amazon has formed a cup and handle on the weekly.
Current sentiment has turned bullish, yields are pushing lower and seasonals are great too for Amazon at this time of the year.
Fundamentally, AWS is the engine for Amazon and I expect revenue to pick up in that department in the coming months. As for retail, it should steadily deliver.
We need to finish above 147 in the coming week or get a bullish daily close in the daily and then the coast should be clear.
1st Target is 180.
Current sentiment has turned bullish, yields are pushing lower and seasonals are great too for Amazon at this time of the year.
Fundamentally, AWS is the engine for Amazon and I expect revenue to pick up in that department in the coming months. As for retail, it should steadily deliver.
We need to finish above 147 in the coming week or get a bullish daily close in the daily and then the coast should be clear.
1st Target is 180.