Amazon (AMZN) Just Flashed Golden Cross Signal: Do You Buy?

Amazon (AMZN) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, AMZN crossed above the 20-day moving average, suggesting a short-term bullish trend.The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.Shares of AMZN have been moving higher over the past four weeks, up 8.9%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that AMZN could be poised for a continued surge.The bullish case only gets stronger once investors take into account AMZN's positive earnings estimate revisions. There have been 16 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors may want to watch AMZN for more gains in the near future given the company's key technical level and positive earnings estimate revisions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks