NFLX - Amazon: Being A Bear Doesn't Make Much Sense
2024-06-15 08:30:00 ET
Summary
- Amazon stock has faced selling resistance at the $190 level over the past two months.
- AWS and Advertising will need a more robust growth inflection to deliver a valuation re-rating in AMZN stock.
- The market remains confident in Amazon's bullish thesis, as buying momentum is incredibly resilient.
- AWS is still the market leader and scaling rapidly outside of the US.
- I argue why staying invested in AMZN is the right way to bet on its long-term growth opportunities.
Amazon Stock's Buying Momentum Stalled
Amazon ( AMZN ) investors have seen AMZN stock's buying momentum stall below the $190 level over the past two months. As a result, I have assessed possible profit-taking as the market reassesses AMZN's bullish thesis. I provided a bullish AMZN update in my previous article in April 2024. I urged investors to maintain their bullish posture, as the rally in AMZN stock seemed far from over....
Amazon: Being A Bear Doesn't Make Much Sense