Loose and wide ahead of earnings

23 apr 2022

AMZN continues to act poorly despite the looming stock split. The company reports earnings next week but analysts are not very excited about short term comparisons given consumers' behavioral changes as the pandemic is coming to an end. In case of a miss, the price may re-test the $2200-2400 area. A beat and good guidance may offer an oversold bounce to $2950-3000. I would rather buy puts than calls for now. The stock will become more appealing once it splits later in the summer.