Is Amazon Headed To $145? A Look At The Stock Ahead Of Earnings Season
Portfolio Pulse from Melanie Schaffer
Amazon.com, Inc (NASDAQ:AMZN) stock is showing a possible bull flag pattern, suggesting a potential rise in the future. The stock was trading slightly lower on Monday, but this was on lower-than-average volume, indicating consolidation rather than a bearish trend. If the bull flag pattern is confirmed, the stock could rise by about 8.5%, potentially reaching $145. However, if the stock breaks down from the pattern, it could increase volatility in the stock market due to its heavy weighting within the SPDR S&P 500.
July 17, 2023 | 3:22 pm
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POSITIVE IMPACT
Amazon's stock is showing a possible bull flag pattern, suggesting a potential rise. If the pattern is confirmed, the stock could rise by about 8.5%, potentially reaching $145.
The article suggests that Amazon's stock is showing a bull flag pattern, which is a bullish signal. If this pattern is confirmed, it could lead to a significant rise in the stock price. However, if the stock breaks down from this pattern, it could increase volatility in the stock market due to Amazon's heavy weighting within the SPDR S&P 500.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
If Amazon's stock breaks down from the bull flag pattern, it could increase volatility in the stock market due to its heavy weighting within the SPDR S&P 500.
The article suggests that if Amazon's stock breaks down from the bull flag pattern, it could increase volatility in the stock market due to its heavy weighting within the SPDR S&P 500. This could potentially lead to a decrease in the price of SPY.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 60