Amazon is a great company with strong fundamental, but the valuation at this point is way too high for the market.
Remember, we are in quantitative tightening ( less money supply) market. The market will punish the over valued stock.
However, I can see AMZN is going down in the channel ( not perfect, but close enough), and now its at the lower end of the channel. I expect a reasonable bounce from this level to 90+ level then get rejected. The next target for my long term position is 65 level.
Remember, we are in quantitative tightening ( less money supply) market. The market will punish the over valued stock.
However, I can see AMZN is going down in the channel ( not perfect, but close enough), and now its at the lower end of the channel. I expect a reasonable bounce from this level to 90+ level then get rejected. The next target for my long term position is 65 level.