Technical outlook: AMZN bearish scenario:We have technical figure Triangle in US company Amazon.com, Inc. (AMZN) at daily chart. Amazon is an American multinational technology company based in Seattle, Washington, which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Microsoft, and Facebook. The Triangle has broken through the support line at 31/10/2020, if the price holds below this level we can have possible bearish price movement with forecast for the next 53 days towards 2 339.19 USD. Our stop loss order should be placed at 3 495.00 USD if we decide to enter this position.
Fundamentals:
- Amazon is withdrawing advertising for pre-Black Friday discounts in France, after the government said the campaign was unfair to small shops at time when a coronavirus lockdown has forced them to close.
Amazontrade
Amazon Prime DayPrime Day
Prime day happens every year since 2015. This event allows AMZN prime members to access exclusive discounts for 2 days. This usually happens in July but due to COVID-19 it did not happen this year. Rumors are now circulating that Prime day will be announced soon, the general consensus is that it will be Oct 5-6 and no later than Oct 20.
15 days prior to Prime day for the past 5 years AMZN stock has went up and average of 7.6%. Currently reaching weekly demand zone, this should start to pick up steam as investors await for a date. Once announced AMZN should see a nice pop to the upside. A 7.6% increase at the current price would bring AMZN to about 3300 from where it stands now.
Naked options on this would be risky but a vertical spread would be less risk/more reward.
Buy Zone and Target for Amazon $AMZNMy buy zone and target for Amazon. Amazon is reaching an apex point, it should make a move soon. I think as long as the support trend line hold amazon should be a good buy. A break below the support trend line would invalidate this ascending triangle.
(Not financial advice)
AMZN continue its equilibriumHello everybody, the AMAZON stock price seems entering in an equilibrium range since 14 April, after passing a good uptrend since 16 March.
In the actual conditions, the AMZN stock price will continue in its equilibrium, but could at any time break it :
- above which mean another increasing trend
- or below the rectangle which means a decreasing trend.
AMZN working hard or hardly working?AMZN has proven itself to has bullish features, but is that momentum slowing down? MA's indicate so, for now, momentum can be seen to be slower than the normal rapid bullish movements that are seen. This momentum will resume once MA's decide on a direction whether it be upwards and continuation of this very weak upward trend or breakdown to begin a new respectable move upward. I would either go long on this or short it.