Amazon stock reacted volatilely to the change in chief executive announced this week. Still, the majority of analysts remain very bullish on the e-commerce giant’s stock.
Tuesday night, the quarterly numbers for Q4 2020 were announced. As expected, these were very good. But those numbers took a back seat as CEO Jeff Bezos announced his retirement. However, after some selling and red days, Amazon stock was able to close the week in positive territory.
The day after the quarterly figures and the news about the CEO change, there were many buy recommendations from analysts. One apparently sees no danger for the share price in the change of power.
Looking at the chart, you can see that Amazon is still in a range sideways. However, it has managed to break out of the triangle. The next resistance level is at $3501. Buyers have been able to find Amazon stock in the $3339 range in the past. Currently, new all-time highs look very realistic. This picture is supported by the analysts.