AMZN is Free to Retest its All-Time Highs

AMZN reports Thursday after the close. The upmove from yesterday through today so far, from 1845 to 1930 has thrust above every prior "shoulder peak" hit during the past 10 months (see my attached 4 hour chart), and as such, is pointed towards a run at its Sep-Oct 2018 high-zone at 2030 to as high as 2080.

A bullish algo-knee jerk reaction to Thursday's earnings report certainly could pop AMZN 6%-7% to test the all time high zone.

Conversely, if AMZN disappoints, or otherwise reacts negatively, a sustained breach of 1830 will argue that the post-12/24/18 advance from 1307.00 (intraday) is exhausted... Last is 1919.36/85

4 23 19 AMZN 1210 GIF
4 23 19 AMZN 1210 GIF
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!