Shares of tech titan Amazon.com Inc. (NASDAQ: AMZN) have finally done what investors have been waiting for for months. After repeatedly hitting resistance around the $240 mark, the stock exploded higher following last Thursday’s earnings report, soaring more than 15% into Monday’s session and straight into record highs.
As we’ve been highlighting recently, for much of the past couple of months, Amazon had been consolidating in a narrow range, frustrating bulls who could see the company’s strength but were waiting for confirmation. Now that the breakout is here, the question is just how good could it get—let’s jump in and take a closer look.
