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AMZN trade ideas

Amazon - Breakdown of the breakout!NASDAQ:AMZN is definitely ready for a major bullish (triangle) breakout. Here we have a textbook example of a bullish stock. Amazon's stock chart is simply moving from bottom left to top right. Of course there are minor corrections here and there, but the trend is clearly higher. For the past four months, Amazon has been hugging a horizontal resistance level and is preparing a bullish breakout. This will certainly become a decent break and retest setup. Levels to watch: $185 Keep your long term vision, Philip - BasicTrading
NASDAQ:AMZNLong
by basictradingtv
5
Amazon (AMZN): Preparing for a CorrectionWe need to zoom out significantly to get a clearer picture of Amazon. The stock has been in a maximal zone between $177 and $214. For the past three months, it has been ranging between $177 and $188, at the top of Wave B. Current Situation: Elliott Wave Analysis: We believe a substantial drop is necessary to complete the overarching Wave (2). The parallel trend channel that was broken with the completion of Wave 5 should be revisited to finalize Wave (2). This would be a textbook Elliott Wave behavior - breakout of a trend channel to complete the wave 5 as a fakeout and a deeper correction to flush some participants out of the market and into slight panic mode. Target Range: We are targeting a range between $131 and $103 as a likely zone for this correction to end. Ranging Behavior: Amazon has been ranging for three months, indicating consolidation before a potential move. Strategy: Observation Mode: We are currently observing the stock for signs of weakness. Limit Order: A limit order will be considered if the stock begins to show significant downside momentum. If and when we decide to place a limit order, we will issue a detailed market report. Amazon's current range suggests consolidation, but we expect a deeper correction to complete Wave (2) rather than a breakout to the upside. We are monitoring for signs of weakness and will place a limit order if conditions are met. For now, there is no immediate need to place an order. Further updates will be provided as the situation evolves.
NASDAQ:AMZN
by freeguy_by_wmc
3
Amzon.comIf AMZN remains above 185, will drive it to test higher levels near 188.35 - 189.77 - 191.70. As 191.70 is considered the last major peak that needs to be violated, to confirm the major uptrend, with potential targets at196.60 - 199 - 202.80. The stop-loss lies below 181.22, as a break below it, will cancel the mentioned positive scenario. The information and publications are not intended to be or constitute any financial, investment, commercial, or other types of advice or recommendations provided.
NASDAQ:AMZNLong
by Gehad_Abouelela
Finding Confluences Increase Trade ProbabilitiesFinding confluences in securities always increases chances of a successful trade. In this example, FEMA (Custom Fragmented Exponential Moving Average) is stacked correctly, the price bounced off FEMA on the pullback, and the pullback also matched Fib 0.382 level. Expecting price to reach $190.98, as that was prior high level, and it also matched the Fibonacci 1.272 extension. Then, expecting $195.64, which is Fib 1.618 extension, and Keltner Channel upper band(upper green line) is estimating price to reach that level before reverting back to the mean.
NASDAQ:AMZNLong
by ADmytrenko2
AMZN going down-a-dozenThere is strong negative divergence on the price and has very likely done a double top at $189 area. Ideally, if that double top is confirmed in the next one or two candles, then it should fall to at least the rising trend line. However, that rising trend line also is making the bearish flag pattern. So there is high likelihood that it will loose support of trend line, which if it does, should fall to the bearish flag pattern target of ~$119, which happens to be a strong support area. This would be the best point to buy Amazon! But that's if it follows those possibilities. Now as you would expect, it would not be a linear fall, but likely a 4-6 month thing, which time wise, aligns perfectly with end of year retail sparks. So if we end at that price point around Oct, I am going heavy in to this. Alternatively, all of this is bullshit, and price gets support earlier and has a change of trend, so watch for the support areas $174, $167, $156, $145 and $126. Time will tell, but in the very short term, price should be falling to one of the support areas.
NASDAQ:AMZNShort
by ositrades
5
Analysis of Amazon (AMZN) Price Action: Short to Medium Term OutAnalysis of Amazon (AMZN) Price Action: Short to Medium Term Outlook Upon examining the hourly timeline for Amazon (AMZN), it becomes evident that the stock is currently testing a significant support level that has been established since late April. This support line has proven resilient, having been touched multiple times over the past few weeks. Technical Analysis Overview Support Line Analysis: The repeated tests of the support line suggest that it is a robust level where buyers have consistently stepped in to prevent further declines. This indicates strong buying interest whenever the stock approaches this zone. Bullish Signal: The bounce off this support line in the recent price action signals a potential bullish reversal in the short to medium term. This pattern often suggests that buyers are willing to enter at these levels, viewing the current price as attractive for accumulation. Volume Confirmation: It would be prudent to confirm this potential reversal with a look at trading volumes. Ideally, an increase in volume accompanying the bounce off support would strengthen the bullish case, indicating conviction among buyers. Resistance Levels: As the stock attempts to bounce, the next critical hurdle will be overcoming nearby resistance levels. These levels could coincide with previous highs or key moving averages, which may act as barriers in the short term. Market Sentiment and Economic Indicators Macro Environment: Understanding the broader market sentiment and economic indicators can provide context. Factors such as consumer spending trends, economic data releases, and sector-specific news can impact Amazon’s stock performance. Competitive Landscape: Monitoring developments among Amazon’s competitors and within the e-commerce sector can also offer insights into future price movements. Conclusion In conclusion, the current technical setup on the hourly chart of Amazon (AMZN) suggests a bullish outlook in the short to medium term. The repeated testing and bounce off the strong support line since late April indicate resilience and potential accumulation by market participants. However, traders and investors should remain vigilant for any signs of reversal or failure to sustain above resistance levels. Confirmation through volume and market sentiment analysis will be crucial in validating this bullish scenario. This analysis provides a foundation for decision-making but should be complemented with broader market analysis and risk management strategies to navigate potential volatility and market uncertainties effectively.
NASDAQ:AMZNLong
by VolmertFinance
$AMZN I believe Amazon's stock will retrace to $175 or below for several reasons. Firstly, we've touched the top of the consolidating range at $188 for the third time, suggesting strong resistance at this level. Additionally, there's a bear flag forming on the hourly chart, indicating potential downward momentum. This presents a great buying opportunity when the stock hits the $175 area. Furthermore, with Prime Day coming up next month, I anticipate it will act as a catalyst to drive the stock back up to $200.
NASDAQ:AMZN
by bdijondev
3
Potential Turning Point for AMZN. The daily chart of NASDAQ:AMZN shows a well-defined long-term uptrend channel and ascending wedge in the short term. Two possible scenarios: Breakout upwards: If the wedge breaks upwards, the long-term uptrend continues, targeting the return line of the channel. Despite the uptrend already being mature, this would cancel out the signs of weakness, and the return line would be the next resistance. Breakout downwards: This seems more likely, as the ascending wedge indicates weakness in the short-term uptrend. A downward breakout could lead to a larger retracement, confirming the lack of a touch on the return line, indicating a loss of momentum in the long-term uptrend. Thus, a deeper retracement could potentially break the uptrend line of the channel. Let's keep an eye on it. What do you think will happen with Amazon?
NASDAQ:AMZN
by LuccasChartRoom
AMAZON | AMZN , Jeff is back? While Jeff Bezos, fiancée Lauren Sánchez have star studded engagement party on his $500M yacht Amazon has just reported its Q2 2023 earnings result, EPS of 65 cents is not comparable on YoY basis nor to consensus due to the company booking some gains related to its Rivian Automotive, Inc (RIVN) investment. Revenue of $134.3 billion beat consensus by about 2% while showing a YoY jump by nearly 11%. As an immediate reaction, the stock is up nearly 8% after-hours, although this can turn on a dime.I wrote in my preview that Amazon still remains a revenue story and to pay attention to Q2's actual revenue and Q3's revenue guidance. Amazon hit it out of the park on both counts, with Q2 revenue showing an 11% jump and Q3 guidance of $138 billion to $143 billion, easily upping the consensus of $138.29 billion. As a direct effect of the company reining in on its expenses, Amazon's Free Cash Flow ("FCF") in Q2 2023 improved to almost $8 billon compared to -$23.5 billion in Q2 2022. Headcount is now down 4% YoY.Advertising, which I've highlighted as the next growth driver in many of my past articles, was up 22% YoY. But, more importantly, resumed its upward trajectory on a quarterly basis. Advertising services revenue showed continuous QoQ improvement until the first blip in Q1 2023. Whether Q2's upsurge is a new trend remains to be seen, but it is encouraging that Q2 did not follow Q1 down. I am also glad that my prediction that advertising will cross $10 billion in sales came true.It appears like retail has finally stopped bleeding profusely to avoid wasting all the gains from AWS and Advertising. In my view, retail is just their medium to sell their ecosystem, and this is acceptable to me. Heading into earnings, Amazon stock was almost into the oversold territory with a Relative Strength Index ("RSI") of 37. Revenue beat and guidance should help the stock garner more analyst support in the upcoming days, and I fully expect the stock's almost-oversold conditions to be in the stock's favor as it has plenty of room upwards technically. The after-hours move has also helped the stock clear all of the commonly used moving averages.AWS's revenue and operating income appeared to be on a perennial, mid-double-digit growth trajectory until recently. However, Q2 saw AWS' sales increase by "just" 12% while operating income fell by more than 5%. It is in this context that advertising services becomes even more important. While $22 billion is strong, it fell well short of the $25 billion I predicted, as the company aims to cross $100 billion in 2023 AWS revenue. The stock was already up 50% YTD heading into earnings and the run appears set to continue. I am not complaining as a long, but it shouldn't surprise anyone to see the stock pullback from the highs given the market's shaky behavior the last few days. Overall, Q2 results are much better than Q1, and that shows in the stock's performance, at least as shown in the after-hours price movement. However, Amazon has never been a single quarter or single year story for me. Amazon's ecosystem is enough reason for me to continue believing in the company long-term. The ability to leverage multiple products and services across the entire organization is not something any company can build overnight. In fact, even Amazon has taken nearly 30 years to be the company that it is today
NASDAQ:AMZN
by moonypto
2
Amazon JungleWas waiting to see if the blue curve holds in this project in order to decide to post these simulated projections that take into account potential pivot points, reversals, or zones for support/resistance and BREAKOUTS... in either direction, even though I am slightly bullish biased on this one. I have this scenario in mind where this could find support somewhere at the white or continuing on the blue or towards the red for a more decisive push in case the Earnings don't upset the whole harmony in this picture. If everything goes to pieces will be having an eye for the possibility of the blue curve becoming resistance with a retest. Other lower probability scenarios are some impact zones around the green and purple rectangles. If the prices reaches the top curves it would be only as a reference to see the price action around them for potential validation of the simulation.
NASDAQ:AMZN
by nen
1