Shares of Amazon.com may have broken out of a wedge pattern, just ahead of earnings.
Shares of Amazon.com (AMZN) may have broken out of a wedge pattern, just ahead of earnings. While there is no confirmation of the breakout yet on the chart (that is super important), it is worth noting that price is now above the wedge trend line and could signal further upside. With Amazon.com reporting earnings after the bell, we will see if it's a legit breakout. If so, price can easily hit $3,555, the all-time high.
(Click on image to enlarge)
All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. InTheMoneyStocks, LLC and its representatives assume no responsibility for your trading and investment results. All information on the website was obtained from sources believed to be reliable., but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. InTheMoneyStocks, LLC, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. InTheMoneyStocks, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment results.
Comments
Log in or sign up to join the conversation.