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 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 touched), 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.
Save & Invest