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AMZN: Not Exactly a Value Stock but Bullish for 2020
Amazon is not a value stock by any means but will post new records by the time we finish up 2020. Much of 2020 for Amazon was a year of consolidation, but if you look closely and analyze, the consolidation is actually gearing up for an eventual break-out.
I would not be at all surprised if Amazon finishes at-least 20% up relative to where it stands today (at about 1850) and finishes 2020 near or a little below 2400.
The starting point of Amazon's run will occur early in the New Year, or, if there is a 2nd or 3rd week January sell-off Amazon could fall to the lower level that I have outlined, before beginning its run to ATHs. The run won't necessarily be smooth sailing, initially, but will likely look closer to what Apple's stock underwent; rough start but a very strong mid to late finish.
Off-topic, but look for the energy sector to run up significantly in 2020 and into 2021 as a weakening DXY, declining US oil reserves, continued OPEC oil production cuts and the 'search' for strong value lead the sector to a widespread 15-20%+ gain in 2020 which should linger into 2021 as well. Quality stocks like Diamondback Energy, Tourmaline Oil, Enbridge, Canadian Natural Resources and Suncor will likely lead the way.
- zSplit
I would not be at all surprised if Amazon finishes at-least 20% up relative to where it stands today (at about 1850) and finishes 2020 near or a little below 2400.
The starting point of Amazon's run will occur early in the New Year, or, if there is a 2nd or 3rd week January sell-off Amazon could fall to the lower level that I have outlined, before beginning its run to ATHs. The run won't necessarily be smooth sailing, initially, but will likely look closer to what Apple's stock underwent; rough start but a very strong mid to late finish.
Off-topic, but look for the energy sector to run up significantly in 2020 and into 2021 as a weakening DXY, declining US oil reserves, continued OPEC oil production cuts and the 'search' for strong value lead the sector to a widespread 15-20%+ gain in 2020 which should linger into 2021 as well. Quality stocks like Diamondback Energy, Tourmaline Oil, Enbridge, Canadian Natural Resources and Suncor will likely lead the way.
- zSplit
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