Amazon: Hold For A Clear Breakout Above The Resistance Zone

  • This article is follow-up coverage since my previous bullish coverage.
  • Amazon has gained 14.30% since February 6, outperforming the S&P 500 by 4%.
  • Strong financial performance attributed to AWS, but declining marginal impact amid competition raises concerns.
  • Technical analysis suggests a potential entry point at $200, with a bullish long-term outlook and a price target of $285.16.

Investment Thesis

Since my previous bullish article dated February 6th, 2024,, Inc.(NASDAQ:AMZN) has gained 14.30%, outperforming the S&P 500 by a margin of about 4%. In my previous coverage, I had discussed the technical view of the stock, where my