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Once in a Decade: Amazon Stock Sees Golden Cross, Bullish Indicator

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By CCN: In the past 30 days, Amazon’s stock (AMZN) has increased from $1,500 to $1,926 year-to-date, surging by more than 28.4%. The strong momentum of AMZN led a key technical indicator called the short-term 50-day moving average to surpass a long-term 200-day moving average, flashing the infamous “golden cross.” Golden Cross Confirms Bullish Momentum for Amazon (AMZN) According to Ari Wald, the head of technical analysis at Oppenheimer, an investment bank with more than $25 billion in assets under management, the golden cross confirms the likelihood of a strong upside movement form AMZN in the medium-term. Speaking to CNBC,

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* First published on ccn.com

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