Amazon.com Inc (NASDAQ: AMZN) closed out last week just under the $190 mark, following a much-anticipated earnings report that, while beating expectations on both revenue and EPS, came with cautious guidance that initially held shares back from breaking higher.
Still, the stock’s price action into the weekend told a different story. After a brief dip on Friday morning, Amazon rebounded and ended the session strong, finishing near the day’s high. That kind of reversal is often a sign that buyers are stepping in, and with shares still down more than 20% from February’s all-time high, the setup is starting to look compelling.
