top of page
  • Writer's pictureT. Livingston

AMZN On Watch

Last week, I wrote a blog post discussing how market leadership continues to be narrow. The stocks that continue to hold up the best are large-cap names that most people are familiar with: META, GOOGL, NVDA, NFLX, and AMZN. It seems like funds and institutions are not yet ready to broaden out their holdings into new leadership and instead are choosing to venture back into well-known names.

Amazon.com is a company that millions of people use each day, and its' stock is in no way a secret. However, there are some things happening with AMZN that casual market participants have most likely not noticed yet. First, after a down year in 2022, Amazon is expected to deliver strong annual earnings in 2023. Further, AMZN's quarterly earnings are accelerating, with the last two quarters showing triple-digit growth.

AMZN has been building a tight base over the last few weeks and has found support near the 50-day moving average recently. I will be looking to start a position in Amazon should it clear recent resistance.


Risk right. Sit tight.


To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.




Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


Comentarios


Los comentarios se han desactivado.
bottom of page