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AMZN
Benzinga
41 days

Amazon Golden Cross Meets Prime Day Boom - Is The Stock Ready To Rip?

1. Amazon's stock completes a Golden Cross, a bullish technical formation. 2. Prime Day offers 96 hours of deals, boosting e-commerce activities. 3. Current price of $219.36 signals upward momentum amid short-term resistance. 4. Short-term averages may pose moderate risks before price breakthrough. 5. Volume confirmation needed for sustained upward trend during Prime Day.

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FAQ

Why Bullish?

The Golden Cross historically leads to upward momentum. In past instances, similar formations resulted in stock price increases during promotional events.

How important is it?

The article discusses a key technical indicator and seasonal sales, pivotal for AMZN's performance. This combination influences investor sentiment and trading decisions significantly.

Why Short Term?

Immediate sales from Prime Day will likely drive short-term price movements. Historical data shows PM events positively influence stock performance in a short timeframe.

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