Price currently at the uptrend line, which was confirmed. Also 50% retracement level. With recent earnings disappointing and news came out today that there will be no renewal deal with Amazon at the end of this month.
While it is a good level for a buying opportunity, the stock seems to be more on the sell side for now. Major banks like Morgan Stanley and JP Morgan gave it a 'hold' rating and a price target of $143 and $173 respectively.
So far, higher probability is that this stock will go lower, so maybe best to wait for the next support if this one breaks and buy then. Or short the break of the current 150 support level. Good Luck!
While it is a good level for a buying opportunity, the stock seems to be more on the sell side for now. Major banks like Morgan Stanley and JP Morgan gave it a 'hold' rating and a price target of $143 and $173 respectively.
So far, higher probability is that this stock will go lower, so maybe best to wait for the next support if this one breaks and buy then. Or short the break of the current 150 support level. Good Luck!