From October 2001 to July 2021, Amazon shares rocketed from $0.27 to a record-breaking high of $188, a stunning 70,000% rise.
Remarkably, during the height of the Covid-19 pandemic, Amazon's stock surged 23%, contrasting sharply with the S&P 500's 19% dip.
However, in late 2022, Amazon faced a downturn, with prices falling below the $100 mark. After hitting a low just above $80, prices started to bounce back, battling resistance at the $100 mark until eventually regaining ground in January 2023.
Currently, we are seeing a bullish trend with higher highs and higher lows. The share price has surpassed its February 2nd high at $114 and is now using this level as support.
Considering the stock has already ascended 34% this year, reaching a 40% growth mark over the coming weeks or months is plausible.
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If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Remarkably, during the height of the Covid-19 pandemic, Amazon's stock surged 23%, contrasting sharply with the S&P 500's 19% dip.
However, in late 2022, Amazon faced a downturn, with prices falling below the $100 mark. After hitting a low just above $80, prices started to bounce back, battling resistance at the $100 mark until eventually regaining ground in January 2023.
Currently, we are seeing a bullish trend with higher highs and higher lows. The share price has surpassed its February 2nd high at $114 and is now using this level as support.
Considering the stock has already ascended 34% this year, reaching a 40% growth mark over the coming weeks or months is plausible.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
