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Amazon Set To Reach 40% Growth For 2023?

From October 2001 to July 2021, Amazon shares rocketed from $0.27 to a record-breaking high of $188, a stunning 70,000% rise.

Remarkably, during the height of the Covid-19 pandemic, Amazon's stock surged 23%, contrasting sharply with the S&P 500's 19% dip.

However, in late 2022, Amazon faced a downturn, with prices falling below the $100 mark. After hitting a low just above $80, prices started to bounce back, battling resistance at the $100 mark until eventually regaining ground in January 2023.

Currently, we are seeing a bullish trend with higher highs and higher lows. The share price has surpassed its February 2nd high at $114 and is now using this level as support.

Considering the stock has already ascended 34% this year, reaching a 40% growth mark over the coming weeks or months is plausible.

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