“We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and they’re the reason we’re successful: Put the customer first. Invent. And be patient.”
— Jeff Bezos
We would add the company profile here… but let’s just say it’s a company that sells books… and a few other things, online.
As for the quote above, it seems Bezos and crew nailed it on all fronts… and the stock reflects that.
|52 Week High: $||$847.21|
|52 Week Low: $||$511.66|
|Yesterday’s Closing Price||$836.39|
|Change (relative to yday close)||$6.31|
|% Change (relative to yday close)||0.75%|
|Current Price % 52wk Range||98.66%|
|Most Recent Daily Open||$834.00|
|Most Recent Daily High||$842.81|
|Most Recent Daily Low||$832.82|
|Earnings/Share (Most recent report)||$4.90|
|PE (Price Earnings Ratio)||172.03|
How To Trade AMZN Longer Term
The monthly here is completing a fairly short duration Bull Flag. We noted the potential of a longer term buy signal in the stock in our discussion of it here.
The weekly shows 3 clear areas of resistance (and 2 areas of support).
This weekly chart shows what’s happened the last 2 times price formed a pattern like the 1 currently forming.
How To Trade AMZN In The Short Term
The answer to that inquiry is much the same as how to trade AMZN longer term. The daily chart here shows a tight risk (in relative terms) entry… An entry hereabouts with a stop just below $810 is likely to yield good results if the pattern plays out. If you only consider chart patterns, this is a pretty good looking Cup w/Handle pattern.
How To Trade AMZN Summary
Opinions make a market, but short AMZN here at your own risk (peril).
The stock is firing on all cylinders and concluding yet another strong pullback pattern in both the long term and short term timeframes.
Hope it helps.