As you probably know already, AMZN has recently hit an all time high becoming the second company to reach a 1 trillion dollar net worth (behind AAPL). However, during this breakthrough the share price has broken a resistance which has proven to be pretty tough in the past. With multiple strong rejections, it is very pleasing that AMZN was finally able to break through.
Given this great news, we have to keep in mind that the price still has a chance to drift back below the resistance. Until we confirm a rejection at the resistance, there is nothing there to support the price rise in the near future.
Most likely the rejection will be eminent, just be weary that there is still a chance that it may not.
Given this great news, we have to keep in mind that the price still has a chance to drift back below the resistance. Until we confirm a rejection at the resistance, there is nothing there to support the price rise in the near future.
Most likely the rejection will be eminent, just be weary that there is still a chance that it may not.
Can't predict the future though.