Amazon Testing Key Pivot Zone. . .Watch today's close with respect to 120.69-121.69 - region defined by the 61.8% retracement of the August decline / 100% ext if the 2023 rally.
Initial support now back at the median-line / 114. Bullish invalidation raised to 104.10.
A topside breach from here keeps the focus on the September 22' uncovered gap near ~126.28 and the upper parallel near ~130.
Amazon
Why does Amazon look so bad? 😖 And what expect until end of 23? In period 2021-2022, the entire Sp500 index was pulled by FAAMG (Facebook, Amazon, Apple, Microsoft, Google).
Of all these five, Amazon looks weakest. Let's see why?
Amazon is engaged in Internet commerce 🌐
During the pandemic, the company felt great, as many people were forced to stay at home and order goods online.
However, covid ended and benefits stopped.
During period of low rates, people got into loans even more strongly.
Now that the key rate is >5%, it becomes very difficult to obtain and service loans.
As a result, people's incomes have dropped dramatically around the world 📉
Yesterday in an interview, Bill Gates said that development of artificial intelligence will greatly change the industry of searching for information and shopping on the Internet.
That is, the head of Microsoft says that because of AI, the business of Google and Amazon will not be sweet 📉
In general, such a situation does indeed take place.
Therefore, in a year or two, the familiar abbreviation FAAMG may become: FAM.
You can find even more profitable ideas in the profile header 🎩
If you are interested in analysis of any other asset - write in the comments and I will do it.
Amazon withdrew from the Chinese marketAmazon announced that its withdrawal from the Chinese market was attributed to fierce competition from domestic rivals such as Alibaba and JD.com, regulatory challenges and changing consumer habits. In addition, Amazon faced difficulties gaining market share in China, where local players with a deep understanding of the market and strong logistics capabilities dominate e-commerce, despite its withdrawal from the domestic marketplace. As a result, Amazon announced in June last year that it would end the operation of the Kindle e-bookstore in China on June 30 this year. After that, users cannot purchase new e-books. At that time, the incident attracted market attention, and China's Ministry of Commerce also responded to this, saying that this is a normal phenomenon in a market economy. The outage in the Chinese market will not affect its operations in other regions, and other users can still obtain the required applications through the Amazon App Store.
Relevant news may affect short-term stock price performance, but the long-term trend has little impact. The reason is that Amazon has withdrawn from the Chinese market, which has a relatively small impact on business operations and income. From another perspective, after Amazon starts from the Chinese market, it will concentrate its resources on other Asian regions and emerging market countries, which will have more room for future enterprise development, cost control and marketing. According to the stock price performance of Amazon on the Nasdaq market in the United States on May 23, the impact was less than 0.1%. Assuming that the U.S. debt ceiling negotiations do not have much effect on the market, it is estimated that Amazon's stock price may find support in the red range in this chart or develop upward in the blue price range.
Amazon -> Finally BullishHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Amazon stock is currently breaking above a major previous weekly structure area exactly at the $105 level which is now turned support.
You can also see that over the past months, Amazon has been creating a solid double bottom, weekly market structure and moving averages are also very bullish, so I am now just waiting for a retracement and then I do expect more continuation towards the upside.
On the daily timeframe you can see that with today's candle, Amazon stock is perfectly breaking above a major previous daily resistance area at the $112 level which is now turned support so I am now just waiting for a retest and then I am looking to get long on Amazon.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Potential base pattern on AmazonWe have identified a potential base pattern on the Amazon share price that will complete on a close above 114, the reaction high that we saw in January.
A close above 114 would complete the base an offer a potential upside target of 147.
One to watch!
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MyMI Option Plays - Amazon (AMZN)Just like AMD, NVDA is retracing back to the 50% level of it's most recent drop as well around $114.82. After announcing that they will be unleashing their own AI, I'm sure the reactions going to start picking up at some point behind that. Although AMZN is made of many other things.
But from an investment standpoint, I would be interested in going long as long as we break that retracement and hold finally.
We shall see!
AMZNHello ladies and gentleman
chart of amazon stock
Like we as see
Break key level with two candles
We have close candle above key level
And If we see first candle on the support
We can call it bullish engulfing
So now we can analyse what we can expect from
The price action
High probability to keep rise to next resistance
In next mounth
Like And Subscribe
Thank you
$AMZN - bull and bear thesisNASDAQ:AMZN
Daily timeframe
* Breakout, bounce off the support trendline and 3 daily bounces off the top of the triangle I have laid out, I still think this goes to $119.98. I think my previous bear case will be wrong, adjusting based on new information
Bull: I still don't see resistance until $119.98 (the nearest breakdown candle)
Bear: If it breaks below the bear flag, I'd expect a move back to $88.40
Amazon set to BREAKOUT or FALLOUTAs we analyze the 4 hour chart of Amazon I am honestly indifferent on the stock and would not be trading or buying it right now as it seems "stuck to me" based off these channels... When we look at the "macro" blue channel it shows upside with price pointing to higher 130s... but it would be a very swingy ride there.. right now we are in the white channel which is also very swingy and large for a channel to trade but profit to be made if TIMING is right... I have fib levels listing this as a Wave 2 and looking for more downside, but will continue to watch if we are to breakout of the resistance.. until then I would stay bearish.
SHORT RNDR Token, Overbought - Resistance HitCurrent Price: $2.43
Entry point 1: $2.58
Entry point 2: $2.43
Target 1: $2.25
Target 2: $1.95
Stoploss: $2.70
This is a solid asset with a large amount of potential but i believe it is currently overbought and needs some room to cool, This is why i have added two entry points to this trade. The first one is for the more conservative investor who would like to see a bit more confluence before making the jump, the second entry point is for those banking on the overall market and the asset decline in price.
The Render Network is designed to connect users looking to perform render jobs with people who have idle GPUs to process the renders. Owners would connect their GPUs to the Render Network in order to receive and complete rendering jobs using OctaneRender. Users would send RNDR to the individual performing the render work and OTOY would receive a small percentage of RNDR for facilitating the transaction and running the Render Network.
Once they’ve registered their idle GPUs on the Render Network, these GPU owners become “Node Operators” and are able to earn RNDR Tokens. They do this by accepting jobs from users in need of rendering work, known as “Creators”, who send their files to the Render Network, where they are assigned to Operators. Render receives a small percentage of the RNDR paid out in order to maintain the network and facilitate the transaction.
AMZN breaking down (30 min)As we see Amazon break through the cloud to the downside we should expect more downside to come into next week.. I would play this to the downside until, or if we break the horizontal line which is resistance to the upside. It is possible we test that line and then break down or we just see it keep breaking down from the price it is at now. The good thing is we have broken out of the cloud and should see momentum continue to the downside. Always have a stop loss and it tight.
AMZN Earnings - $110 StraddleLet's pump this clown market? For real, how else can we hit 4200SPX?
Looking to see at least a 5-10% move. if it's like META then maybe we moon or inverse moon. Should be fun to watch.
Position is 5/19 HKEX:110 straddle. Going to close tomorrow regardless of outcome.
Have a beer and enjoy I'd say.
Stay Away from AMZN NowTechnical Analysis:
- AMZN is still doing a WXY medium term correction in blue
- In the short term AMZN is finishing wave ((2)) in black before going more down side
- We expect that the correction will be finished at around BMV:60 when wave ((II)) is also completed
- H1 right side is turning up
- H4 right side is turning down
Technical Information:
- Don't buy AMZN now
- We like to buy when the correction WXY is done
Amazon & Appleboth Amazon and Apple are making very bearish reversal formations which might drop drastically the price to a new low on a big TF, Daily. Remember it's a mid to long-term view; therefore, it could be invalid. However, these are well-known wave structures, and they are accurate most of the time, but certainty does not exist in charts of course.