Prime Day Blowout Sees Bullish Amazon Stock Aiming to Deliver All-Time Highs

prime day stock

Amazon just concluded its two-day global shopping event – Amazon Prime Day. The annual shopping holiday is exclusive to Amazon Prime members who have the privilege of taking advantage of Prime Day discounts. This year, the e-commerce giant is expected to rake in close to $6 billion in a span of the 48-hour event.Investors are paying attention to the revenue generated by this event. The company’s stock is once again trading above $2,000 and it looks ready to take out the all-time high of $2,050.There’s no doubt that Amazon is one of the strongest Nasdaq stocks. The tech giant’s stock has been on a steep rise since January 2015. A quick look at the weekly chart reveals two reasons AMZN looks mega-bullish.The first reason is that the equity has respected the uptrend line for more than five years. AMZN has touched the diagonal support four times and every single time,…

Read the original article here