Amazon stock signals possible 175% rally to $700
Photo: Finbold
Amazon (NASDAQ: AMZN ) stock could rally about 175% to $700 if its long-term bullish trend continues. The projection by TradingShot in a TradingView post on October 28 is based on a 25-year ascending channel that has guided Amazon’s share price since the October 2001 Dot-com crash bottom. With AMZN closing at $253.10 on Tuesday, a move to $700 would represent a gain of approximately 177%, while reaching $750 would imply an increase of about 196%. The monthly chart shows Amazon trading within the ascending channel, with the 100-month moving average ( MA ) acting as long-term support.
Source: Finbold
