AP/Amazon
The stock has rallied 33% since its huge earnings beat January 29, according to Bespoke Investment Group.
And what's more, the recent rally puts Amazon shares on the edge of a "golden cross."
A "golden cross" is a technical indicator that happens when a stock's 50-day moving average crosses its 200-day moving average, indicating that a stock is poised to go higher.
Bespoke writes:
"As we've mentioned before, golden crosses aren't a sure-fire buy signal by any means. But for AMZN, golden crosses have been a pretty good signal over the last ten years. The last time we saw this happen with the name, shares rallied 19.45% over the following year."
Late last month, Amazon reported fourth-quarter earnings per share of $0.45, versus estimates of $0.27, and $29.33 billion in revenues, compared to expectations of $29.68 billion.
The stock surged nearly 14% in after hours trading after the earnings release.
In trading on Thursday, shares of Amazon were up by as much as 1.6% at around $380.
Here's the chart from Bespoke showing all of Amazon's golden crosses over the last 10 years.
Bespoke Investment Group
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.