Long Position on AMZN @ $139.00 on 11/7/2023 (Momentum)

Amazon.com, Inc. (AMZN) engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. 

It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.

It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Rings, Blink, eero, and Echo; and develops and produces media content.

In addition, the company offers programs that enable sellers to sell their products in its stores; and programs that allow authors, musicians, filmmakers, Twitch streamers, skill and app developers, and others to publish and sell content.

Further, it provides compute, storage, database, analytics, machine learning, and other services, as well as fulfillment, advertising, and digital content subscriptions. Additionally, the company offers Amazon Prime, a membership program. It serves consumers, sellers, developers, enterprises, content creators, and advertisers.

Shares have formed a bullish "cup and handle" and are expectd to move higher. On October 26th, AMZN reported earnings of $0.85 per share on revenue of $143.08 billion for the third quarter ended September 2023. The consensus earnings estimate was $0.58 per share on revenue of $141.47 billion. The Company reports on January 25th.

Entry Point: $139.00

Stop Loss: $132.00

Trading Range: $81.43 to $145.86

Target Price: $152.00

Position closed on 12/12/2023 at price of $147.00 with a 5.76% gain in 35 days.

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