Amazon's stock is extremely bullish from a chart perspective. There are intact uptrends in almost every time frame. Currently, the stock is wedging and potentially picking up momentum to break out dynamically to new all-time highs. Our main scenario foresees a further approach to the upper wedge boundary in the short term, in order to develop new momentum on the upside when it is crossed. All-time highs with prices well above 200 USD should be the result.
Bearish alternatives come into view, especially if the long-term trend channel line at around 162 – 167 USD is broken.
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