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AMZN trade ideas

Analysis of AMZN Stock: Price at 1.5-Month LowAnalysis of AMZN Stock: Price at 1.5-Month Low As shown in the AMZN chart, the stock price dropped below: → the psychological level of $180; → the mid-June interim low. The last time AMZN traded below $180 was in early June. Thus, AMZN has faced sell-offs, similar to other tech stocks whose charts we've published this week. A widely mentioned reason for the sell-offs is investor rotation, moving capital from overbought tech stocks to shares in other sectors. Will AMZN's price drop further? Fundamentally, bulls might find hope in speculation that: → the company might start paying dividends. Rumours suggest the company has accumulated $100 billion in cash; → Amazon in Austin, Texas, is developing its own AI chip to compete with Nvidia. Technical analysis of the AMZN stock chart also provides reasons to expect a recovery (at least in the short term): → The price is near the lower boundary of an ascending channel that has been in place in 2024, which may act as support. → The false breach of the $180 psychological level could also support the price by altering the supply-demand balance. → Below yesterday's low is the $175 level, which has repeatedly shown support in 2024, as indicated by arrows. A bounce from these supports could provide valuable insights into the bulls' aggressiveness. Meanwhile, forecasts are optimistic. According to TipRanks, all 44 Wall Street analysts recommend buying AMZN stock, with an average price target of $224.60 (nearly +25% from current levels) within 12 months, surpassing the current high around the psychological level of $200. Note that analysts' opinions may change after the Q2 earnings report, scheduled for August 1. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:AMZN
by FXOpen
2
AMZN is at weekly and daily demand zones.NASDAQ:AMZN is at key weekly and daily demand zones which have held up for the past several months. The daily 100 EMA and weekly 20 EMA have served as strong demand zones on this entire move higher after last earnings season, and we have been swinging the stock long from these levels in the $170s, before scaling out at $190 and $200 targets. This dip into $182 is a great level to reload equity that was sold into targets for a potential move back to highs. The trade will be invalidated if it builds below these levels; however, entry here provides favorable reward-to-risk ratio.
NASDAQ:AMZNLong
by DMT_Doctor
4
AMAZON Stock Chart Fibonacci Analysis 071824Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 184/61.80% Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : C A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the Support D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
NASDAQ:AMZN
by fibonacci6180
Insiders Are Selling Shares of Large CompaniesInsiders Are Selling Shares of Large Companies Yesterday, the S&P 500 stock index (US SPX 500 mini on FXOpen) set another historical high, closing near the 5650 level. However, similar records are not observed on the charts of rally leaders from the first half of 2024 – NVDA's price is 8.6% below its historical high, MSFT is 3.1% lower, and GOOGL is 2.6% below its record. And this isn't the only cause for concern. Insider sales, as indicated by reports to the SEC, could add to anxieties. For instance: → Bezos sold over $900 million worth of AMZN shares; → Nvidia board member Mark Stevens continues to sell NVDA shares, as does company CEO Jensen Huang. According to Goldman Sachs, fund managers have increased their long positions in US stock index futures to record levels. And according to a July survey of fund managers conducted by Bank Of America: → Market sentiment remains bullish amid expectations of a Fed rate cut and a soft landing for the economy; → Geopolitics now pose the biggest risk to markets, followed by inflation. If professional market participants foresee further growth in the stock index, it might not be driven by shares of large companies. On June 27, we discussed the bullish "cup and handle" pattern near the $190 level on the AMZN price chart. Since then, bulls have shown the ability to push the price towards the psychological level of $200, but they have not managed to sustain this success. Today's technical analysis of the daily AMZN chart shows that: → The price is moving within an ascending channel (shown in blue); → After breaking above the $190 level, the price failed to reach the upper boundary of the channel – a bearish sign; → The breakout above the psychological level of $200 turned out to be false ("bull trap"). Support for bulls could come from: → The $190 level (former resistance); → The median line of the blue channel. According to TipRanks, the average price target for AMZN, forecasted by Wall Street analysts, is $222.51 (up 15.46% from current levels) in 12 months. Despite prevailing positivity in the stock market, weaker performance compared to the index and insider sales should caution regarding the future prospects of AMZN shares. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:AMZN
by FXOpen
4
Amazon - Swing idea with Volume ProfileOn Amazon , it's nice to see a strong buying reaction at the price 188. There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. The S/R zone from the past and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading Dale
NASDAQ:AMZN
by Trader_Dale
1
AMAZON DECLARES WAR ON TEMU Recently, Amazon (NASDAQ:AMZN) has launched war on Chinese platforms Shein (private) and Temu (PDD Holdings Ticker: NASDAQ:PDD), both of which have been capturing significant market share in online retail sales. Amazon has announced the opening of a new online store for low-cost products shipped directly from China. Initially, this store will focus on brand-name apparel and household products priced under $20 and weighing less than 1 pound (almost half a kilo). Key Facts: App Downloads in 2023: Temu was the most downloaded e-commerce app with over 120 million downloads, surpassing Amazon. According to Google GWS, Temu had 82.4 million active users in September 2023, compared to eBay's 40 million and Walmart's 85.5 million. Amazon, however, still leads with 142 million monthly users. Impact of the "Dom Minimis" Rule: Chinese sellers take advantage of this rule that allows them to import products without paying duties or taxes if the value of the package is less than $800. This gives them a significant cost advantage. Temu Growth: Since its launch in 2022, Temu has seen a considerable increase in sellers also operating on Amazon. Currently, there is approximately 10% overlap between Temu and Amazon sellers, and this number is expected to increase. Price Comparison: Price Difference: Many products on Temu are significantly cheaper than on Amazon.For example, a fan that costs $23 on Amazon is available for only $6.95 on Temu.This is because Amazon sellers must pay referral fees, import, duty, and high FBA fees. Amazon Fees: This year, Amazon has increased its FBA fees, introducing an inventory placement fee ranging from $2 to $6 per unit, and a low inventory fee. This increases costs for Amazon sellers. Amazon's strategy: Chinese Factory Incentives: Amazon is incentivizing Chinese factories to sign up for its program, allowing them to ship directly from China, which would avoid additional costs and compete with lower prices. El Cheo Mall Section: Amazon plans to have a section specifically for these low-cost products, although they would likely appear in regular searches as well, competing directly with products from third-party sellers on Amazon. Implications: This Amazon strategy could displace many local sellers who cannot compete with the low prices of products shipped directly from China. Sellers will have to adapt, focusing on customized or high-end products that cannot be easily replicated.This is because local sellers must pay for mandatory inventory service and mandatory packaging, unlike products from China. The consumer mindset shift of price over speed has mutated due to increased inflationary pressure from consumers who previously prioritized speed over price. But finding the same product in Temu at 1 euro and the same product at 40 euros on Amazon, has resulted in a drift of Amazon to seek imitation of its Asian competitors, who seek volume over price. Amazon was already punished in India for its monopolistic practices, but China, ends up fighting monopoly with low prices, lower than anyone could assume. In reality Amazon doesn't care how they make profits, and it is likely that FBA sellers will end up adapting their strategy to MOAT products (which cannot be easily replicated) and with higher quality and branding that defines their products. It is important to monitor how this strategy will affect the market and consider diversifying sales strategies to stay competitive in this environment. Looking at the chart Amazon has been marking economic milestone after economic milestone with a new support zone being generated at this moment around $191.79 being the previous zone $174.24. We will see if it exceeds the highs of $201.20. On the other hand, the control point (POC) is located around a lower support zone around $146.54. The current RSI is oversold at 39.02% so it would not be unusual for it to look for a rise again in the coming weeks.If we look at Temu's chart, since San Juan (June 24), it has been forming a fall in price to the $142.80 zone, being the current price zone $138.00. We will have to see if it recovers the $153.40 zone and looks for the highs in the $162.00 zone with the new Amazon strategy. Ion Jauregui – ActivTrades Analyst ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
NASDAQ:AMZNLong
by ActivTrades