Amazon.com Could Be Preparing for a Breakout: Technical Analysis

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Amazon.com has consolidated since last August. Now it may be ready for a breakout, especially with the Nasdaq leading again.

Friday’s close of $3,510.98 was AMZN’s second-highest close ever. It was also the highest close since September 2, a potential sign of investors accepting prices above $3,500.

Next, consider that last peak 10 months ago. It marked a …

For more, please click here to view the related idea and chart analysis on TradingView.

Amazon.com (AMZN), daily chart with selected patterns, courtesy of TradingView.
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