Tech titan Amazon.com Inc. (NASDAQ: AMZN) heads into Thursday’s earnings with plenty on the line. Recent weeks have seen the stock move more sluggishly than usual, and shares were trading around $225 on Friday, Oct. 24, still capped below the stubborn $240 ceiling that has halted every rally since February. When we warned of a triple top taking shape, the stock was down about 6% from its September peak.
Investors will be forgiven for getting nervous with the stock essentially flat for the year, especially as the S&P 500 notched a fresh record on the morning of Oct. 24. To be fair, the bulls did step in to defend $210 the week before, the same level they held in August, but without a pop from this week’s earnings, the stock risks toppling over. So just what kind of report is needed to avoid this?
