Amazon Forms Second Possible Bull Flag Pattern: Will The Stock Enjoy Another 8% Run?
Portfolio Pulse from Melanie Schaffer
Amazon's stock topped out at $122.92 on Tuesday, following an 8% run after breaking a bull flag pattern. The stock is currently trading within an uptrend pattern, which may continue until a lower low is formed. Another bull flag pattern may be forming, suggesting a potential 8% rise towards $130.
May 31, 2023 | 2:23 pm
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Amazon's stock is in an uptrend pattern, with a potential new bull flag pattern forming. This could lead to another 8% rise towards $130.
The article mentions that Amazon's stock is currently in an uptrend pattern, which is likely to continue until a lower low is formed. A new bull flag pattern may be forming, suggesting a potential 8% rise towards $130. This information is relevant and important for investors, as it indicates a possible short-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100