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AMZN

Amazon is in a long short race!Amazon is in a long short race! This chart shows the weekly candle chart of Amazon stocks over the past two years. The top to bottom golden section of July 2021 is superimposed in the figure. As shown in the figure, the low point of Amazon stock in early January 2023 hit the 2.000 level of the golden section in the figure, and is now in the second largest wave of rebound, breaking through the 1.000 level of the golden section! The next strong pressure level for Amazon stocks is at 0.618 on the golden section in the graph!
NASDAQ:AMZN
by Think_More
AMAZON: Is starting the new buy wave to 144.50.Amazon is trading inside a Channel Up for the last 2 months on balanced bullish technicals on the 1D timeframe (RSI = 65.517, MACD = 3.080, ADX = 16.131). Yesterday's low and reversal into today's strong 1D candle, looks like the start of the 2nd wave of buying inside the Channel. As long as S1 holds, we are buying with a target just under R1 (TP = 144.50). If the S1 breaks (candle closing under it), we will take a quick sell targeting the 1D MA50 (TP = 127.00). Important observation: The 1D RSI is inside a Channel Down, hence a bearish divergence to the price's Channel Up. If it crosses above it, buying is favored. Otherwise, it should cause a bearish reversal sometime soon. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:AMZNLong
by InvestingScope
Daily Market Analysis - WEDNESDAY JULY 12, 2023Greetings, traders! Welcome back to our daily Market Analysis. Today, we have gathered the top news and interesting fundamental analysis for your consideration. Let's dive in and stay informed! Key events: New Zealand - RBNZ Interest Rate Decision USA - Core CPI (MoM) (Jun) USA - CPI (YoY) (Jun) USA - CPI (MoM) (Jun) Canada - BoC Interest Rate Decision USA - Crude Oil Inventories The energy and large technology sectors were the primary contributors to Tuesday's gains in the stock market, while investors awaited the forthcoming inflation reports with bated breath. The rise in value of the Dow Jones Industrial Average was 317 points, or 0.9%, while the rise in value of the S&P 500 was 0.7% and the rise in value of the Nasdaq was 0.6%. DJI indice daily chart SPX500 indice daily chart As a result of an improved demand outlook, oil prices skyrocketed, which provided a boost to the energy sector. There is a growing expectation that the oil market will tighten in the second half of this year. This expectation is supported by falling crude production as well as Saudi Arabia's commitment to cutting output by one million barrels per day beginning in July. The sentiment surrounding energy stocks was further buoyed by reports of potential stimulus measures in China, which is the largest importer of energy in the world. The stock of 3M Company (NYSE: MMM), which was upgraded by Bank of America to Neutral from Underperform, increased by almost 5% as a result of the upgrade. It is anticipated that the manufacturer of industrial and consumer products will benefit from the conclusion of legal issues, which is anticipated to enhance the performance of the company. A settlement agreement was reached between 3M and the government last month to resolve allegations that the company contaminated public water systems with PFAS, which are also known as forever chemicals. MMM stock daily chart After receiving an upgrade from Hold to Buy from Jefferies, JPMorgan (NYSE: JPM) led the banking sector higher just as earnings season was about to begin on Friday. As justifications for the upgrade, Jefferies pointed to the robustness of JPMorgan's balance sheet as well as the company's potential for earnings. Gains were also seen by regional banks, which have come under increased scrutiny ever since the banking crisis that began earlier this year. After Bank of America reaffirmed its recommendation to buy the company's stock, US Bancorp (NYSE: USB) saw its share price rise by more than 3.5%. US Bancorp is well-prepared to handle sector headwinds, according to Bank of America, and is expected to achieve superior earnings growth and stock performance, according to the statement. JPM stock daily chart Amazon (NASDAQ: AMZN), which benefited from its two-day prime day sales event, stood out as one of the few stocks in the technology sector that was trading in the positive territory. During this time, Microsoft (NASDAQ: MSFT) struggled to make gains, despite the growing optimism surrounding the impending acquisition of Activision by Microsoft for $69 billion. Activision is the company that makes the Call of Duty video game. The attempt by US regulators to temporarily block the deal due to antitrust concerns was rejected by a federal judge in a ruling earlier today. The forthcoming publication of US CPI (Consumer Price Index) data has become the sole focal point of attention for stock futures trading in both the United States and Europe. The majority of speculators are expected to be surprised by the US inflation data, which analysts strongly anticipate will exceed their expectations. AMAZON stock daily chart The change in the Consumer Price Index (CPI) for the United States is expected to be 0.3% month-over-month (m/m), while the change in the CPI year-over-year (y/y), which is the most significant change, is expected to be 3.1%, compared to the previous reading of 4.0%. If the actual number comes close to or matches the forecasted 3.1%, it will be seen as positive news for the market because the inflation target set by the Federal Reserve is 2%. On the other hand, market participants are likely to rejoice if the reading falls below 3.1% because this indicates a significant shift in the trend of inflation. Nevertheless, it is essential to pay close attention to the trajectory that the reading of inflation will take in the future. Although the data that are released today will show a significant drop, which will be driven by tighter monetary policy, an economic slowdown, and lower oil prices, these factors will have less of an influence on the inflation number going forward. As a consequence of this, the gap between the Fed's target and the actual reading might not expand by an additional factor of two from its previous magnitude. GOLD daily chart It is anticipated that the price of gold will be volatile throughout the course of the day. Even though the support level at $1,900 is strong, it may be put to a significant test if the inflation data continues to show no signs of easing. Gold prices would be supported by a sizeable decline in the reading of inflation, which could potentially lead to an attempt to test the $1,950 level. On the other hand, if the reading indicates that inflationary pressures will continue for some time, the price of gold may go up even further. As a result, there is a greater chance that the Federal Reserve will raise interest rates, potentially on more than one occasion.
by FOREXN1
14
Daily Market Analysis - TUESDAY JULY 11, 2023Key News: UK - Employment Change 3M/3M (MoM) (May) UK - Unemployment Rate (May) Eurozone - ZEW Economic Sentiment (Jul) USA - FOMC Member Bullard Speaks USA - EIA Short-Term Energy Outlook As the trading session unfolded on Monday evening, US stock futures exhibited a relatively limited range, maintaining a tight grip after three consecutive days of decline in major benchmark indices. Market participants eagerly anticipated the release of crucial inflation data and upcoming earnings reports, which held significant implications for the market trajectory. During the session, mega-cap stocks failed to deliver substantial support. Tesla, a prominent player in the electric vehicle industry, experienced a decline of up to 2% in its stock value, reflecting the prevailing cautious sentiment. Similarly, Amazon, a global e-commerce behemoth, concluded the session with a decrease of over 2%, just ahead of its highly anticipated Prime Day event. Over the years, Prime Day has evolved into a widely recognized shopping extravaganza across various industries, serving as an important indicator of the willingness of US consumers to increase their online spending and their overall economic sentiment. The performance of Amazon's stock during this event provides valuable insights into the health of the e-commerce sector and consumer spending patterns. TSLA stock daily chart AMZN stock daily chart In contrast to the aforementioned declines, Meta, formerly known as Facebook, witnessed a notable rise of 1.23% in its stock price during the session. This upward movement can be attributed to the success of its recently launched platform, Threads. Since its release, Threads has rapidly gained traction, accumulating an impressive user base of 100 million individuals. The platform's popularity and positive reception among users have contributed to the positive sentiment surrounding Meta's stock. Adding to the favorable outlook for Meta, internet traffic data provided by Cloudflare revealed a substantial decrease in Twitter usage. This decline in Twitter's popularity further bolstered the positive sentiment surrounding Meta, as it indicates a potential shift in user preferences and a possible migration of users towards Meta's platforms. Overall, Meta's stock performance during the session reflected the market's positive response to the success of Threads and the perception of a decline in Twitter's popularity, positioning Meta as a favorable investment option in the tech sector. META stock daily chart Yesterday, there was a notable increase in the amount of money invested in treasuries, causing the US 2-year yield to decrease by around 10 basis points. Surprisingly, even though there were predictions of a tough approach by the Federal Reserve, the US dollar unexpectedly plummeted below its long-standing upward trend line. Consequently, individuals with a pessimistic view on the dollar are now focusing on reaching the 100 level as their next objective. USD/JPY daily chart The dollar-yen pair experienced a significant drop below the 141 level and is now approaching the 50-day moving average (DMA) support, located around the 140 level. On the other hand, the EUR/USD pair rallied above the 1.10 mark, disregarding a sentiment index that suggests a faster deterioration in the Eurozone during July. The upcoming release of the German Consumer Price Index (CPI) is expected to confirm a recent increase in inflation, primarily driven by the positive impact of low-priced train tickets distributed by the government last year. However, the ZEW index is anticipated to reflect a worsening sentiment. While higher German inflation generally benefits the euro, it remains uncertain how much significance Christine Lagarde and her colleagues at the European Central Bank (ECB) attach to sentiment indicators. EUR/USD daily chart Despite the expectations of a more aggressive stance from the Federal Reserve, the US dollar continues to weaken. Simultaneously, the European Central Bank (ECB) is also expected to adopt a more hawkish approach. These factors combined could potentially lead to a further rise in the EUR/USD pair, with the possibility of reaching the 1.12 level. Looking ahead to Tuesday, European stock markets are expected to open with gains, taking cues from the positive performance of Wall Street and Asian markets during the previous session. Market participants will closely analyze important data on German inflation and UK unemployment. The optimistic sentiment in Europe can be attributed to the strong finish of Wall Street, where the Dow Jones Industrial Average climbed over 200 points or 0.6%. This surge was influenced by signals indicating that the Federal Reserve was nearing the completion of its interest rate hike cycle for the year. DJI daily chart Asian markets saw mostly higher stock prices in early trading on Tuesday, and this positive trend is expected to carry over to European markets as well. The optimism follows comments made by several officials from the US Federal Reserve on Monday, suggesting that interest rates will need to be raised further to address inflation concerns, but also indicating that the tightening cycle is nearing its end. Throughout the year, concerns have persisted that the Federal Reserve's aggressive measures to control inflation could potentially trigger a recession in the largest global economy, which greatly impacts global growth. These concerns have put pressure on markets worldwide. In other news, the British pound exhibited a slight weakness after the release of a private sector survey highlighting a slowdown in wage growth and hiring pace in June. While recent data has shown limited evidence of this trend, the upcoming release of figures from the Office for National Statistics (ONS) today may provide further clarity, albeit with a lag. GBP/USD Daily chart Approximately a month ago, the UK witnessed a noteworthy development in the April wage numbers, which underscored the challenges faced by the Bank of England. The data revealed a surge in wage growth, reaching a record high of 7.2%, excluding the pandemic period. This significant increase led to a rise in UK 2-year gilt yields, surpassing the peaks observed in October of the previous year, following the ill-fated Kwarteng budget. The sharp rise in wages in recent months has shed light on the Bank of England's failure to take timely action. Workers, already grappling with financial pressures from various sources, are advocating for larger pay raises to narrow the gap in real wages. The release of May's wage data today is unlikely to indicate a weakening in these upward pressures, as expectations suggest a growth rate of 7.1% for the three-month period ending in May.
by FOREXN1
3
AMZN Do Bearish Divergences Predict a Reversal? SHORTAMZN has ascended 15% in the past two months. As shown on the 4H chart, dynamic resistance has been the red lines designating two standard deviations above mean VWAPs are anchored in February and early May. The two indicators however suggest bearish divergence. The zero-lag has lower highs and lower lows on the K / D line excursions. The Chris Moody dual RSI shows the RSI on the blue daily time frame dropping and crossing under the black weekly time frame RSI. Fundamentally, according to the linked article AMZN typically drops 0.34% on Prime Day. Based on all of this, I am expecting a reversal. Upon confirmation, I will short Amazon in a possible Fibonacci style retracement.
NASDAQ:AMZNShort
by AwesomeAvani
3
Amazon's Resilience: Navigating Challenges and Emerging StrongerAmazon has come a long way since its inception as an online bookseller in 1994. Its stock has witnessed an astounding growth of over 130,000% since going public three years later. Today, Amazon's business spans across a wide range of products, digital services, grocery operations, space satellites, and cloud computing. With its dominance in e-commerce and the cloud industry, one might think that the ideal time to invest in Amazon has passed. However, despite its remarkable growth, e-commerce sales only accounted for 15% of total retail sales last year, indicating that there is still untapped potential in the market. Furthermore, the increasing demand for artificial intelligence (AI) is projected to fuel revenue in the cloud sector as businesses increasingly rely on AI services. With a strong foothold in both these markets, Amazon's long-term prospects remain promising. Hence, it is still an opportune time to consider investing in Amazon stock. The introduction of OpenAI's ChatGPT last year left the tech industry astounded with its ability to generate human-like conversations, pushing the boundaries of AI capabilities. This breakthrough prompted numerous companies to redirect their focus towards AI development. Cloud computing has emerged as a major beneficiary of the AI revolution, as businesses strive to leverage this technology to enhance their offerings. While Amazon may have initially seemed behind in this domain, its cloud competitor Microsoft secured exclusive licenses to utilize several of OpenAI's AI models. However, Amazon has since made significant progress in generative AI. For years, the e-commerce giant has been using AI in its retail operations to track consumer shopping patterns, offer personalized recommendations, and optimize shipping logistics. Leveraging its expertise, Amazon has developed an AI model called Amazon Bedrock, which excels in advanced generative AI tasks like creating comprehensive social media campaigns based on product descriptions. In April, the company announced that Amazon Bedrock would be accessible to Amazon Web Services (AWS) users, alongside a tool called Code Whisperer. This innovative service empowers developers to input their desired outcomes and receive customized code solutions tailored to their specific needs. While Amazon may have initially lagged in AI services, its dominant market share in the cloud industry positions it advantageously. By impressing AWS users with its current AI models, the company is poised to maintain its leadership and capitalize on the rapidly expanding AI market. Amazon faced significant challenges last year, with reduced consumer spending and substantial operating losses in its e-commerce segments. AWS also experienced a slowdown in growth due to businesses cutting back on cloud budgets. In evaluating Amazon's prospects, it becomes crucial to take a long-term perspective, considering its strong position in two pivotal markets that are likely to yield favorable results over time. Encouragingly, the first quarter of 2023 indicates a recovery in Amazon's e-commerce business. The North American segment returned to profitability, reporting $898 million in operating income, while the international segment showed slight improvement. As inflationary pressures subside and Amazon benefits from budget adjustments, the company is expected to continue improving its e-commerce performance. With its dominant market position, Amazon is poised for consistent long-term growth. Unfortunately, AWS experienced further deceleration in earnings growth during Q1 2023. However, Amazon is still in the early stages of its venture into AI cloud services. The extensive retail knowledge accumulated by the company can be a significant advantage in developing efficient AI models for AWS, while its leading market share continues to attract new users. Despite a 54% year-to-date increase, Amazon's stock remains 44% below its peak in July 2021. This suggests that there is still potential for a bullish trend. With its strong positions in expanding markets and room for growth, it is not too late to capitalize on Amazon's long-term prospects and potential profitability.
NASDAQ:AMZNLong
by FOREXN1
18