Tech giant Amazon.com Inc. (NASDAQ: AMZN) is trading at the same level as last Christmas, despite a 40% increase since April and consistent beating of earnings expectations. The stock has been range-bound since July, with recent bullish analyst updates and a bullish chart leaning towards an upside move before earnings.

Analysts remain confident in Amazon’s growth, positioning, and AI narrative. The stock is not overextended and has room to grow. The setup is skewed towards the upside, with positive sentiment and a strong earnings trajectory. While a pre-earnings rally is not guaranteed, the risk-reward increasingly favors a move higher as earnings approach.

Read more at NASDAQ: What to Expect From Amazon in the 4 Weeks Before Earnings