I do anticipate at least 1/3 of the Friday's gain (closing price uptick) to be lost within days (as early as Monday's closing). That's roughly $10+ down from current closing of $363.39. So $353 is quite possible. Now from there to $345 and lower would depend highly on profit taking and some heavy selling by MMs, retail investors etc.
Upside from current level at least in short term is very limited, if any at all.
I believe the move yesterday was highly exaggerated. I know enough about TA to be dangerous so thank you for your input. But this move after, what was really a report that was in line with estimates, with mediocre guidance. This isn't some small cap stock. It added ~$15B in Market cap. That is an incredible move and unjustified.
With $70B in revenues, economy of scale should have been reached, net income should be coming in and FREE CASH FLOW SHOULD BE PLENTIFUL.
My fundamental by the numbers research straight from the 10Q actually show DECREASING margins on gen merch sales and cash flow funded not from ops but from stock sales on option exercise and increase in payables.
They increased gen merch products sales by 2.2 billion, about 20%, but increased net margin on those sales from 291 mil to only 295 mil, a drop is GM%. There are no true analysts looking at this stock only WS shills. I will reveal this all soon,maybe by Monday.