As you can see from the chart, the entirety of the move from above 1200 (I would even argue above 800) was absurd. The new trend is, and continues to be DOWN.
I expect it will continue down until at least 1000.
It will be re-evaluate there to see if it will remain in the decade-long positive trend, or if it will be more in line with the 20 year trend (target in that case will be ~500).
Anyone who remains long will need to explain how AMZN will top 2100. I'm not saying it's impossible, but I just don't see any catalyst for topping 2100, and I therefore expect 2100 to be the long-term top.
The only open question I see is how steep the downward trend will be.
We can easily see some sideways action (if the markets remain positive and no negative news) between 1310 and 1740, OR we can see a steep drop (lots of catalysts out there too, the trade wars, regulations, the Justice Department splitting them up, etc).
Tread carefully.
I expect it will continue down until at least 1000.
It will be re-evaluate there to see if it will remain in the decade-long positive trend, or if it will be more in line with the 20 year trend (target in that case will be ~500).
Anyone who remains long will need to explain how AMZN will top 2100. I'm not saying it's impossible, but I just don't see any catalyst for topping 2100, and I therefore expect 2100 to be the long-term top.
The only open question I see is how steep the downward trend will be.
We can easily see some sideways action (if the markets remain positive and no negative news) between 1310 and 1740, OR we can see a steep drop (lots of catalysts out there too, the trade wars, regulations, the Justice Department splitting them up, etc).
Tread carefully.