Good afternoon, The bar was set high for Amazon NASDAQ: AMZN, so the Q1 results were doubly strong. The takeaway is that the multinational retail and web services conglomerate is firing on all cylinders, providing favorable guidance, and analysts are lifting their targets. What this means for investors is that recent volatility is ending and turning into a directional movement for share prices. The simple fact is that this stock is on track to set a new all-time high soon, which is an important pivot point for the market. All else aside, the technical implications of setting new highs are enormous. In this scenario, the market will break out of a trading range that began in 2020 with the rise of COVID-19, social distancing, and the boom in eCommerce. That range has since been plumbed by a massive correction in 2022, a rebound in 2023, and a return to resistance in 2024. At face value, the range is worth $100 or more than 100%, which gives us our projections. The simple target is $100 + $185 or $285; the bull-case target is $185 + 100% or $370, above the analysts' forecast range.
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