Amazon had an incredible year.

Since 2023 began, the ecommerce giant exploded from about $81.43 to a recent high of $146.74. Even holiday spending numbers should boost the stock even more. Black Friday online sales, for example, were up 7.5% year over year to about $10 billion.

Also, as noted by, “Adobe Analytics said it expects Cyber Monday to remain the season’s and year’s biggest online shopping day at $12 billion, up 6.1% year-on-year.”

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That’s all great news for stocks, like Amazon.

However, once the holiday season is over, investors may want to consider a short position in the AMZN stock. That’s because for most years, once the holiday season is over, the stock tends to see a good deal of profit taking a few weeks into the new year.

Also, technically, AMZN is finding heavy triple-top resistance. It’s also over-extended on RSI, MACD, Full Stochastics and Williams’ %R. That tells us AMZN may be setting up for another post-holiday pullback after a beautiful run.


Ian Cooper