Amazon: Is The River Running Dry?

Mar. 14, 2022 1:43 PM ETAmazon.com, Inc. (AMZN)71 Comments

Summary

  • There are multiple narratives circulating that suggest AMZN stock has already struck an important high in price.
  • We see further upside for the stock, provided the scenario we lay out in this article follows through.
  • Note the clear parameters given, as well as when to become protective, or even bearish.
  • Looking for a helping hand in the market? Members of Stock Waves get exclusive ideas and guidance to navigate any climate. Learn More »

Is the longest running river in the world drying up? In short, we don’t see that as the most likely outcome. In fact, the upside could be substantial for Amazon (NASDAQ:AMZN) stock. Granted, if you were to peruse all of the

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This article was written by

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High-probability investing where fundamentals and technicals align!

Analyst Levi at Elliott Wave Trader. In order to trade profitably, you need to be well equipped to recognize the greatest probability pattern for the upcoming trend in whatever market you choose to trade. Elliott Wave analysis, when utilized appropriately, will provide you with high probability set- ups of what the market CAN do, while excluding what the market will not do. Ever wonder why the market will surge up after bad news has been announced, or will plummet after good news is announced? Elliott Wave theory explains this anomaly with the understanding that the markets move based upon public sentiment, and not news. Any seemingly good news that is announced during a negative sentiment period seems to be "discounted," and vice versa. 

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in AMZN over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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