Chart of the Day: Amazon (AMZN) Extends Recovery Rally to 13-month High

The Barchart Chart of the Day belongs to Amazon.com (AMZN).  I found the stock by using Barchart.com to find the "Barchart New Highs" page, and then I clicked on pull-down to select stocks with new 52-week highs.  I then viewed the stocks on the list with the FlipCharts feature. 

Amazon on Wednesday posted a new 13-month high and closed the day up +2.56% at 144.85.  Amazon has been in a recovery rally this year, overcoming a good part of last year’s sharp sell-off.  Any further rally to exceed the 1-1/2 year high posted in August 2022 of 146.57 would support the case that the current recovery rally can continue.  Barchart’s overall Opinion Average on Amazon is currently at 100%.

Profile:  Amazon.com is one of the largest e-commerce providers, with sprawling operations spreading across the globe. Its online retail business revolves around the Prime program well-supported by the company's massive distribution network. Further, the Whole Foods Market acquisition helped Amazon establish footprint in physical grocery supermarket space. Amazon also enjoys dominant position in the cloud-computing market, particularly in the Infrastructure as a Service space, thanks to Amazon Web Services, which is one of its high-margin generating businesses. Amazon has also become a household name with its Alexa powered Echo devices. Artificial Intelligence backed Alexa is helping the company sell products and services. The company reports revenue under three broad heading:  North America, International and AWS, respectively. Amazon targets three categories of customers - consumers, sellers and website developers.