Does This Technical Analysis Pattern Make Amazon a Buy?
Amazon (NASDAQ: AMZN) spent 2022 in the doldrums. But investors who held on during those tough times should be happy about their decision now. The e-commerce and cloud computing giant has made progress along the path to recovery with improvements in net income and operating income in the most recent quarter. And its shares have climbed more than 50% since the start of the year.
Those who use technical analysis as an investment tool also may be optimistic about Amazon these days. That's because the stock recently showed a pattern that indicates a bullish phase. Does this make Amazon a buy?
First, a quick summary of Amazon's recent past. Economic headwinds like inflation and internal challenges -- such as excess capacity across its fulfillment network -- have weighed on earnings. In fact, last year Amazon reported its first annual loss since 2014.
Source Fool.com
