In the context of a trade, as a opposed to a long-term investment:
I'm going to defer action on AMZN at this time. I'm not bearish, but I feel caution is warranted here. Don't see it as a compelling purchase price at $3100 Won't be surprised by a move higher or lower over the next three weeks. Anticipating good earnings numbers, but market might not reward that.
Just my $0.02
Believe I will have more conviction shortly after earnings.
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Did NFLX earnings ignite pre-earnings run for AMZN?
Black friday/week + Christmas sales will blow the earnings out of the water in my opinion and will at least be at 3500, if not pushing towards 4000, but only time will tell!
I hear you. But I keep thinking about AMZN 's last earnings release and forward looking statements which I saw as strong, but the market chose to mostly ignore them.
It's been drifting sideways for a while and many traders are bullish.
My strongest conviction for AMZN is that a split announcement would cause it to rally 10% (or more) immediately.