Amazon Just Became A Strong Buy Again

Victor Dergunov
Investing Group Leader
(9min)

Summary

  • Amazon's stock is currently a strong buy due to its recent bullish reversal, attractive buy-in level, substantial prospects, and relatively low valuation.
  • Technically, Amazon's stock shows oversold indicators and a high probability for a positive momentum shift, making it an excellent intermediate and long-term buying opportunity.
  • Fundamentally, Amazon is reasonably priced with significant growth potential in cloud, AI, and other segments, supported by its recent blockbuster earnings and profitability improvements.
  • Despite risks like economic slowdown and competition, Amazon's dominant market position and continuous innovation make it a top-rated buy-and-hold stock for the long run.
  • This idea was discussed in more depth with members of my private investing community, The Financial Prophet. Learn More »
Amazon

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The last time I discussed Amazon.com, Inc. (NASDAQ:AMZN), the stock was still below $200, and I said to get ready for a breakout. Since then, Amazon swiftly climbed by more than 20% to an ATH of around $245.

However, Amazon's stock

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This article was written by

Victor Dergunov
51.15K Followers

Victor Dergunov is an independent investor and author with 20 years experience. He preaches diversification and shares investment ideas across all market sectors. Victor aims to help readers build portfolios that perform well in all economic conditions.

He runs the investing group The Financial Prophet where he covers all market sectors and shares strategies for well-diversified investing. Features include: the All-Weather portfolio, trade alerts, technical analysis, daily reports with his latest updates, covered call strategies, and direct access in chat. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am long a diversified portfolio with hedges.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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