AMZN is taking its sweet old time getting to our 1016.18 target, but there shouldn’t be any doubt that it will be achieved. More important is whether buyers can get past it easily on the first try, since that would refresh the bullish energy of the intraday charts, exceeding early June’s record high. Above it sits a much more important Hidden Pivot at 1083 that comes from the long-term charts. It is sufficiently clear and compelling to infer that AMZN could make a very important top there. Traders please note: The stock generated a ‘mechanical’ buy signal at p2=999.89, stop 994.46, on Thursday, so your trading bias should be bullish until such time as the stop is hit.
