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Benzinga
Benzinga
Business
Melanie Schaffer

Why Amazon Stock Looks Set To Skyrocket Back To All-Time Highs

Amazon.com, Inc (NASDAQ:AMZN) was trading mostly flat on Friday, as the stock continued to trade sideways after shooting up over 17% between March 15 and March 22.

The rise paired with the sideways consolidation has settled Amazon into a bullish flag pattern on the daily chart. The bull flag pattern is created with a sharp rise higher forming the pole, which is then followed by a consolidation pattern that brings the stock lower between a channel with parallel lines.

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