With the holidays just weeks away, keep an eye on Amazon (AMZN), we said in late November.

At the time, after gapping from about $215 to $200, the stock appeared to have caught strong support again and could easily refill its gap immediate term, we added. 

Plus, remember, in most years, Amazon is a no-brainer stock to buy and hold for the holiday rush. In fact, except for 2022, the e-commerce giant has historically pushed higher heading into the holidays, which we expect to happen again this year. This year, with AMZN now up to $230, we’re sitting on solid wins.  

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While AMZN is still a strong holiday buy, another one to consider is Target (TGT).

After finding strong support at $120.21, the stock soared back to $137.22. 

From here, we still believe it could refill its bearish gap at around $155 a share. Plus, analysts at Stifel just raised their price target on TGT to $145 from $137. Oppenheimer also raised its price target to $165 with an outperform rating. Even better, while we wait for Target to push higher, we can collect its 3.26% yield in the meantime. 

Also, as we get deeper into the holiday shopping season, we believe Target could push aggressively higher.

Sincerely,

Ian Cooper