Amazon (NASDAQ: AMZN) stock could rally about 175% to $700 if its long-term bullish trend continues.
The projection by TradingShot in a TradingView post on October 28 is based on a 25-year ascending channel that has guided Amazon’s share price since the October 2001Dot-com crash bottom.
The analysis identified $750 as a potential target by 2030.
With AMZN closing at $253.10 on Tuesday, a move to $700 would represent a gain of approximately 177%, while reaching $750 would imply an increase of about 196%.
The monthly chart shows Amazon trading within the ascending channel, with the 100-month moving average (MA) acting as long-term support.
AMZN stock historical context
The stock has experienced three major corrections of approximately 57% to 66%, each finding support near the channel’s lower boundary before resuming its uptrend.
Amazon is currently trading within the channel’s middle Fibonacci…
https://finbold.com/amazon-stock-signals-possible-175-rally-to-700/