Shares of Amazon.com Inc. (NASDAQ: AMZN) have dipped 2.5% this week but are still 7% higher than at the start of the month. A bullish technical signal suggests a potential rally, making it an attractive entry point for investors.

Amazon’s recent earnings report exceeded expectations, with strong growth in its key AWS unit. Despite a P/E ratio of 35, investors are willing to pay a premium for its growth potential. Analysts have reiterated Buy ratings, with price targets indicating over 30% potential upside.

Analysts are bullish on Amazon, with price targets suggesting significant upside. The stock may retest July’s high at $235, with potential to reach an all-time high around $242. Market sentiment and analyst support make Amazon an appealing investment opportunity.

Read more at Nasdaq: Amazon Stock Sets Up for Breakout After Bullish Crossover