Bull Market Brilliance: Decoding The Unstoppable Rise Of Amazon Stock - A Dramatic 51% Surge In The First Half Of The Year Alone
Portfolio Pulse from Zaheer Anwari
Amazon's stock price has surged by 51% in the first half of 2023, driven by its dominance in the marketplace. The upcoming Amazon Prime Day, which generated $12 billion in global sales in 2022, is expected to further boost the company's profits and potentially its stock price. However, investors are cautioned about a potential resistance at the weekly 200 simple moving average (SMA) of $132.95, which could impact the stock's upward trajectory.
July 05, 2023 | 3:06 pm
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Amazon's stock has seen a significant rise in 2023, with a potential further boost from the upcoming Amazon Prime Day. However, a potential resistance at the weekly 200 SMA could impact the stock's upward trend.
Amazon's stock has seen a significant rise in 2023, largely due to its dominance in the marketplace. The upcoming Amazon Prime Day, which has historically boosted the company's profits, could potentially lead to a further increase in the stock price. However, there is a potential resistance at the weekly 200 SMA, which could lead to a decline in the stock price if it is not surpassed. This makes the stock's short-term outlook uncertain.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100