Amazon.com (AMZN) is the 'Stock of the Day' at Real Money this Friday. We last wrote about the stock back on December 2nd and we included a Point and Figure chart with a price target of $2009. The online retail giant released their Q4 numbers last evening and the stock soared to around $2000 and passed our target price.
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Let's use the chart of Fastly to examine the roles of price, trend, momentum, and volume.
The pace of the economic recovery has cooled in recent weeks. And some businesses might start making larger spending cuts if they feel the economy will be under pressure for a while.
It is tough for the bears to gain traction with their macro arguments, when dip buyers and aggressive pockets of trading action remain -- so continue to look to price action for guidance.
Nothing seems to matter anymore except which stock to buy, a staggering conclusion with 11% unemployment and a raging epidemic.