$AMZN breakout @ $3500?

2021年7月4日

*Before reading the information in this please understand the risks associated with both the stock market and investing as a whole. ALWAYS do your own research; invest with conviction, rather than emotion.*

*Please understand I am in no way a professional and offering investment advice, all ideas shared are simply opinion.*

*I work with a team of individuals that does research into potentially undervalued publicly traded companies. We use a mix of fundamental and trend analysis to formulate a trading plan for our securities.*

I hope everyone is enjoying their 4th of July weekend, you know everybody at the SimplyShowMeTheMoney team is.

Nobody is arguing with Amazon's performance in the market in the last several years, the multi-facet company is continuing to dominate the industries they touch in 2021. Amazon (AMZN) has a lot to look forward to in the next few weeks, most especially this coming week. Current CEO Jeff Bezos is expected to step down tomorrow, July 5th. Bezos is expected to maintain a large roll in Amazon's operations, moving to the roll of Executive Chair; Bezos will act as a special advisor to incoming CEO Andy Jassy.

Knowing Bezos will remain at large on Amazon's Board of Directors allows the corporate giant to turn a new leaf as a company with this transfer of leadership. It is no surprise Amazon broke through a $3500 resistance this past Friday with this news trending, but the company also has quarterly earnings reports to look forward to July 29th. They are expected to achieve a 12.21 EPS, but investors know that Amazon has a tendency to smash expected earnings; this trend being true these past four earnings reports.

The breakthrough of a $3500 gives Amazon room to run the rest of this year. A long term bullish trend is apparent, this trend started in March 2020 when Amazon was trading at a share price of $1500. Jassy taking over as CEO paired with another expected smash-hit earnings report could give Amazon momentum to smash through
the still-seen $3500 resistance level, and eventually push a $4000 share price.

My team is seeking an entry this coming Tuesday, July 6. Our price points are as follows:

ENTRY: $3500
STOP LOSS: $3150
TAKE PROFIT 1: $4000

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