Top Stock to Buy #1 – Amazon.com (AMZN)
Leading online retailer Amazon.com (AMZN) is expected to increase net sales 22% in 2013, while earnings are expected to come in at $0.85 per share, up from a loss of $0.09 in 2012. The consensus estimate for 2014 is $2.81 per share.
The stock attempted to break out of a well-defined bull channel in July and failed. Now, it is again attempting to break above the resistance at about $320, and if it succeeds, it will probably make a run to $340. But the chances of profit-taking are high, and trying to buy AMZN on a pullback to $300 seems prudent. However, if buying volume increases and the stock closes above $320, buy it at the market.