Amazon ($AMZN) reported some disappointing numbers and the stock is down. Here’s how you buy it. (April 30, 2020)

by DAN AMZN 
Amazon ( NASDAQ: AMZN ) reported earnings after the bell and the stock is down, this is showing you where it is after hours. They missed on their earnings but they beat on their revenue. I would rather have it that way than the other way around to where they missed on their revenue but they beat on their earnings because earnings can be massaged, revenue really can’t be. I am still looking at 2675.00 as an upside probable price target. I don’t know when that is going to happen but right now the stock is in just in this consolidation phase.

This is the thing, again, they beat on revenue, they beat on their sales and that is a big deal. The stock is trading right in the middle of the range, which means, ipso facto, I don’t know which way this thing is going to go tomorrow; it could go either way. But this is what I would say, this is what I am going to say: If the stock runs above, if it runs out of this box here, if it runs up, we’ll call it above today’s intraday high, we’ll say 2470.00; if this runs up above 2470.00 tomorrow I think you want to buy this stock.

Just literally buy the stock and cover your eyes; because the only way this stock is going to go higher tomorrow is if traders are looking past the earnings and they are literally looking at revenue going, Hey man, in this economy it kind of makes sense that Amazon ( NASDAQ: AMZN ) would be doing so well. That’s fine but all we care about is what the stock is doing not what you are thinking or what I am thinking.

And so let’s pay attention to this; pay attention to the idea that if the stock is actually to move out of here, of this range, it is, yet again, at an all-time high and that is a monster thing for a stock to be in this economic environment. And so look for Amazon ( NASDAQ: AMZN ) but only if it hits an all-time high, that is really when I would buy the stock.

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