Amazon Stock is Breaking Out- $5000 Price Target

Amazon stock is setting up to have one of the biggest moves it has ever had as a stock.  After being in consolidation for a year, meaning the stock has just been gyrating in a sideways pattern.  AMZN stock is finally set to breakout and that’s break out in a big way.

In the video, I show you consolidation.  I also show you the previous attempts over the last year of attempted breakouts by Amazon stock only the breakdown and head the other way.   Failed breakout disappoint lots of investors causing them to sell as they were positioned to ride the next wave higher.

Nvidia stock has broken out recently as well.  NVDA stock has had the same exact pattern as Amazon does prior to the breakout.  I show you the comparison of the two stocks in the video.  I make the case that Amzn stock may not even fall back to test support or prior resistance and to just take off to the moon just like Safemoon crypto.  #safemoonarmy

I had to throw that in there.  I’m a huge Safemoon fan.  Remember as you watch this video that I am not a financial advisor.  I’m just a dude with a blog that makes Youtube videos that people don’t watch.  lol

One of the best points in the video is that I share with you a possible price target.  I use options implied volatility and technical analysis to come up with my target.  I think it’s a very reasonable target and for some reason if AMZN stock announces a stock split, this stock will be there in a week.  What’s the price target?  My Amazon price prediction is $5000.  I don’t know how fast it’s going to get there, but I know it will get there.  If I had to take a guess, I would say within the next 12 months.  Let me know what you think.  Tweet at me your price target for Amazon.