🏆 Today's Chart of the Day was shared by Frank Cappelleri (@FrankCappelleri).
- Amazon ($AMZN) surged +13% after-hours following a strong earnings report. It's trading at a record high for the first time since February, above its former peak of $242.
- Frank notes that if today's move sticks, it will complete a 10-month base, resembling a Cup & Handle pattern. $AMZN is the 4th largest stock in the S&P 500 and the 5th largest in the Nasdaq 100.
- It has been the weakest name in the Mag 7 this year, but it's back to positive territory YTD after enduring a -32% drawdown, leaving $TSLA as the only Mag 7 stock that hasn't fully repaired its Liberation Day damage.
The Takeaway: $AMZN is up double-digits after-hours following a strong earnings report. It's entering record territory for the first time since February while completing a multi-month accumulation pattern.
