Bezos is leaving Amazon (AMZN Stock) while stock price looks bullish for now

Marios Athinodorou Independent Analyst

Bezos is leaving Amazon on July 5

Jeff Bezos Amazon Founder stated during Amazon's yearly shareholder conference yesterday that he will officially leave his position as CEO of the company on July 5, The CEO will give the controls to Andy Jassy, who currently manages Amazon Web Services, following nearly 30 Years of work and controlling the internet giant that made him one of the wealthiest people in the world. Bezos will become Amazon's executive chair. Amazon first published the management shift as part of its February earnings report, stating Jassy would take over throughout the fiscal third quarter. Amazon had not previously shared the exact date of the shift. The timing is "sentimental," Bezos stated July 5 is the date Amazon was incorporated in 1994. As Jeff Bezos leaves the company stakes its future on the cloud. Bezos announced yesterday "I'm very excited to move into the [executive] chair role, where I'll focus my energies and attention on new products and early initiatives,".

Based on the Ichimoku Cloud system Amazon's price looking bullish for now due to the fact that it already formed a confirmed Kumo Break out. To be able to take any opportunities to the upside price needs to cross over the previous highs at $3294

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Author

Marios Athinodorou

Independent Analyst

Marios Athinodorou is a seasoned Market Analyst and Trading Tutor. With a passion for financial markets, Marios started his journey in Forex trading in 2012.

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