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Asset Watch
Thursday, October 5, 2023
With the fundamentals still resilient, technical support could also be on the horizon, as seen by Amazon’s 40-week moving average which has been meaningful support and resistance since mid-2021. The key level is roughly 7% below the Oct. 3 close, so it should end the recent slide unless U.S. Treasury yields continue their rapid rise.
To manage your risk, it may be prudent to dollar-cost average into the position. Instead of putting all your money in at once, you could invest 1/3 at a time and obtain a lower average price if Amazon’s drawdown continues. If the stock recovers, you’ll still enjoy a small gain.
Will Amazon prosper in the months ahead, or will it fail to recapture its 2023 highs?
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