Chart of the Day: Why It's a Great Time to Be an Amazon Shareholder
The online store behemoth has been rolling along, but it's looking to deliver some key earnings numbers Thursday.
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Amazon has been one of the top performers in the Nasdaq 100 for 2025 but we think there could be more upside. Of course, much of that depends on how the stock is treated following Amazon's second-quarter earnings release on July 31, a report which may set the table for company performance the rest of 2025. While having some difficulty moving higher early in the summer, the stock has made a tremendous move up with bullish volume trends.
Support levels are holding at each dip, and the current trend is up as we see a series of higher highs, higher lows on the chart. Strong volume preceded the breakout at $224 so that is where we see the best supporting price.
Parabolic SAR (stop and reverse) is bullish, the MACD (moving average convergence/divergence) has been on a buy signal for months while the ADX is turning up strong. This indicator does not tell us the direction of the trend but the strength of it. We can surmise the trend is up here, and stochastics (momentum) is very strong too with that indicator now embedded (dip buyers adding on each opportunity).
Money flow remains bullish too, and even if the report is not 100% great we may see buyers step in to add shares over time. It's a great time to be an Amazon shareholder. We see more upside coming down the road.
We like Amazon in TheStreet Pro Portfolio and rate it a One, or "buy at anytime."
At the time of publication, TheStreet Pro Portfolio was long AMZN.
