All the supposed tremendous future profits that are to be reaped, as expounded for years in the company's calls, have never materialized and never will, in our opinion. It is painfully obvious that Bezos and company are masters at selling a story, but totally inept at pricing goods and services that people are actually willing to pay a price for that will generate any reasonable profit.
From a technical standpoint however, the chart is a fine example of a stock that is poised for another large jump in price, Long Term. As traders and investors we must trade the chart and not allow our opinions to beguile us into fighting the chart.
The Long Term Short that was sold aggressively 1 year ago reached it's 1st target, but has since retraced to the point of failure before reaching the critical 2nd target. This situation rarely results in the original 2nd target being reached.
The current Intermediate Swing Short entry corresponds closely with the LT Short failure level, and doubtless some reaction will take place and we have identified it's 1st target on the chart. What we are particularly interested in is whether price can advance sufficiently at this point to definitively negate the LT Short setup.
If long from area identified on the chart, a counter-trend short is indicated at this point, having clearly in mind the r/r and the need to be nimble in trading these types of setups.
Trade the chart and trade safe.