$AMZN Earnings Will Send the Stock Higher or Lower?

$AMZN sports a 550 p/e ratio. It's pundits continue to talk negatively about the stock, yet its up almost 20% over the last year. Here are the two latest titles on Seekingalpha.com "Amazon.com Has A Big Problem" and "Expectations Sky High For Amazon.com Again On Thursday".   I enjoy gathering opinions of other market participants to help reinforce my own opinions on stocks.  Like we saw with the recent pull back, when everyone thinks a stock is going to head one way, it usually heads to the other.

Let's cut to the chase.  I think $AMZN is poised for a sharp post earnings move to the upside.  I've been calling for this move since it hit recent lows under $320.

Here is my prior post on $AMZN

and here is the action I see for $AMZN post earnings:



I like the $360 and $370 weekly calls.

They closed at $1.24 and $.86 respectively.

I can spend a few hours writing up a long winded post on why $AMZN is a $400+ stock.  But I'm not going to waste your, or my, time.

From a technical perspective I am looking for a move up to the former resistance line the stock fell from - the roughly $380 level.  That would bring a test of new record prices into the picture as it moves over $400.


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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