Here's Why Amazon (AMZN) is a Great Momentum Stock to Buy

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Summary: Amazon (AMZN) - Amazon currently holds a Momentum Style Score of B, indicating potential for solid momentum trading [3] - The company has a Zacks Rank of 2 (Buy), which historically outperforms the market when combined with a Style Score of A or B [4] - Over the past week, Amazon's shares increased by 0.72%, outperforming the Zacks Internet - Commerce industry, which rose by 0.36% [6] - In the last month, Amazon's stock price rose by 5.37%, compared to the industry's 2.14% [6] - Over the past three months, Amazon shares have risen by 30.7%, and by 17.27% over the last year, while the S&P 500 increased by 16.04% and 12.11%, respectively [7] - The average 20-day trading volume for Amazon is 41,373,832 shares, indicating a bullish sign if the stock price rises with above-average volume [8] Earnings Outlook - In the past two months, 7 earnings estimates for Amazon have been revised upwards, with no downward revisions, boosting the consensus estimate from $6.18 to $6.27 [10] - For the next fiscal year, 7 estimates have moved up while 1 has been revised down [10] Conclusion - Considering the positive momentum indicators and earnings outlook, Amazon is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a strong candidate for near-term investment [12]