Amazon Cloud

Amazon (AMZN) just reached the cloud. The last time this happened was in November 2008. Could be a rare buying opportunity. Does anyone see things differently?


Not financial advice.

Comment:

20-for-1 stock split is about to happen in a couple weeks. We know what that means... More retail buying for no other reason than it's more affordable.

Comment:

In my personal experience and observation, the cloud virtually always acts as support unless it's immediately and clearly pierced by the close of the time period. It appears very unlikely that with 3 more trading days left before the month's close, Amazon will drop a third of its value and close below $1,400. With that said though, the cloud is pretty narrow for August/September, so if a pierce occurs, it could be most likely to happen then. As always exceptions can occur, but this has been my experience. Please comment below if you've experienced otherwise.