Between April 2020 to date, a bull flag has formed on the AMZN daily chart. It has been consolidating from July 2020 to date. An appropriate catalyst such as a good earnings report in 2022 could see this stock having a massive rally. A possible upside limit can be derived by measuring the flag pole, which is approximately 1500. With the amount of time it has spent...
There could be a possible trend reversal in sight if the major trend line is broken. With the current risks facing the economy such as supply chain bottleneck, chip shortage, energy crisis, inflation, and QE tapering, breaking the next major trend line might result in a good correction. I am not an expert but just doing my analysis and might be wrong.
Most of the news on FAA lifting ban on Boeing 737 max has been priced into the current stock price. A lot of short term risks are going to act as downward pressure on the stock. Some of these risks include reduced air travel due to the COVID19, value rotation losing steam, and the China-US trade war affecting the lifting of the ban in China. Look at price actions...