Blast from the past: here’s AMZN – Amazon from our Jan 24 2017 post with a buy point at 818.10. This goes to show that despite market sell offs like we had on Friday, if you buy at the right time you’re well protected. We still think Amazon is a long term buy and hold. Here’s the original post copy below, and the link to the original post itself.
The handle has now formed after 5 days making it a cup and handle pattern on AMZN (instead of just a ‘cup’). The formation and crossing of the moving averages is very bullish.
Pivot point is: 818.10
I have a feeling that the 1000 mark is in AMZN’s near future.