What to Keep an Eye on In Amazon's Stock Ahead of Prime Day

Credit: The Street
Published on July 12, 2019 - Duration: 01:22s

What to Keep an Eye on In Amazon's Stock Ahead of Prime Day

Amazon Prime Day is July 15 and July 16.

And Amazon is on everyone's mind ahead of the big sale.

This year, Amazon switched things up by expanding the sale for another day and adding in exclusive deals with celebrity partners such as Kristin Bell and Lady Gaga.

But, for investors, what should they be watching in the stock ahead of the sale?

Stephen Guilfoyle, a contributor for Real Money, discussed Amazon and what he's watching in the stock.

"I'm loving the volatility in the stock and now we've seen almost a constant rally every day in Amazon this week.

Then we've seen a couple of sharp intraday sell-offs that creates plenty of opportunity.

As you know, I write on Amazon often.

I have a $2,400 target price on Amazon, but I'm not long the name.

I got out of the name when it hit my panic point.

I always preach target prices and panic points.

Well, I got tagged on a panic point there in Amazon when it was trading at $1800 and it took off after that, went higher.

I didn't jump back on.

It hasn't really shown me the kind of dip where I usually like to get back in and I missed a couple of hundred points for crying out loud.

But what I've been doing is day trading the options.

The calls and the puts never going out more than the Friday of the existing week," explained Guilfoyle.

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