“Once the holiday shopping season is over, investors may want to consider a short position in the AMZN stock. That’s because for most years, once the holiday season is over, the stock tends to see a good deal of profit-taking a few weeks into the new year,” we noted on Nov. 26.
Today, analysts at Bank of America seem to agree.
“Investors looking to cash in on the holiday trade may have missed the boat on Amazon, according to Bank of America,” as noted by CNBC. “While Amazon tends to outperform retail stocks on Cyber Monday, history shows that the e-commerce giant typically lags the market between the popular online shopping day and Christmas.”
Also, remember, technically, AMZN is finding heavy triple-top resistance. It’s also over-extended on RSI, MACD, Full Stochastics, and Williams’ %R. That tells us AMZN may be setting up for another post-holiday pullback after a beautiful run.