Analysts rushed to revise their price targets on Amazon following a stunning quarter, and many now see a clear shot to a $1 trillion market cap.
Count Piper Jaffray’s Craig Johnson out. His charts have made him more cautious than ebullient.
“While you’re seeing the fundamental analysts raising their estimates on Amazon, I look at this and I have a little bit more of a cautious kind of perspective purely looking at the charts,” Johnson, chief market technician, told CNBC’s “Trading Nation” on Friday.
