Hello, friends. Welcome back to Apex Market 360.
Today we are looking at Amazon.
Amazon has been moving sideways for more than a month after reaching around $287. Since then, the stock has been gradually pulling back, but one thing stands out: the selling has been happening on relatively low volume.
This is something worth watching.
What Are We Looking For?
I am not trying to predict the exact bottom.
Instead, I want to see two things:
- A strong bullish candle
- Above-50 day average volume
If Amazon shows this combination after several weeks of correction, it could be a good signal that buyers are coming back.
We saw similar strong volume and bullish price action around July 30 following earnings.
If we get another setup like that, the same day or the following day could provide a good opportunity to start accumulating shares.
Long-Term Targets
For someone looking at Amazon from a one- to two-year perspective, I think the stock remains interesting.
Based on the technical levels we discussed previously, the first target is around $310.
If the momentum continues, we could eventually see $350 or higher.
For example, buying around $250 would put $310 at roughly a 20% potential gain, while $350 would be roughly a 40% potential gain.
Of course, these are technical targets, not guarantees.
Don’t Chase the Stock
For now, I would simply keep Amazon on the watchlist.
The correction could continue, especially with the market entering a potentially more volatile September and October period.
The key is to wait for confirmation.
Watch the price. Watch the volume. Wait for the buyers to return.
If Amazon gives us a strong bullish candle with above-average volume, that could be the signal we have been waiting for.
Happy trading and investing.
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Disclaimer
This article represents technical market analysis and is for educational and informational purposes only. Price targets are estimates based on chart analysis and should not be considered guarantees or personalized investment advice.
