Amazon shareholders have approved a 1:20 stock split. The split will take place on June 6, and this week the "bulls" may continue the offensive they started last week, taking advantage of the news.
The split will increase the liquidity of Amazon shares, which is good for traders with a small amount of cash. And if today the formation of the “double bottom” pattern continues by breaking through the neckline of 2315, the immediate growth objective will be 2550.
The option of a more rapid growth with the aim of closing the gap at 2700 is not excluded, but for this the price needs to rise by more than 17%, which looks overly optimistic in the current situation.