Amazon stock continues to move inside the Ichimoku cloud, remaining in a bullish tendency over the past seven months, stretching its upward pattern. According to the MACD, positive momentum is fading as it is moving lower in the short-term. The RSI is approaching the neutral threshold of 50, suggesting some gains again. In the positive scenario, where the price continues to expand above today’s high, a new top could be formed around 3,544.67, where the multi-month high is located. If the market [..]
Amazon.com is set to unveil its third quarter earnings after the market close on October 29 – one of several tech titans reporting their results that day. After a spectacular earnings beat in the second quarter, the online retail behemoth could be about to treat investors with another strong set of results as the ongoing pandemic has largely kept people away from high streets and malls even as most stores have reopened. Boost from online shift The spring lockdowns around [..]
Fed tight lipped on new forward guidance but reaffirms pledge on easy policy Stocks buoyed but cautious ahead of tech earnings, US GDP and jobs data Dollar falls on Powell remarks, then bounces back; gold slips Fed maintains course, ups pressure on Congress The Federal Reserve left monetary policy unchanged on Wednesday but warned of a “slowing in the pace of the recovery”. Having already implemented a full range of tools in its fight against the coronavirus, the Fed’s decision [..]
Dollar drifts lower in mostly risk-on mood ahead of Fed statement Virus success powers aussie to 7-week high, euro perks up too Oil steadies, stocks move higher in lacklustre trading Dollar pressured amid lockdown easing, eyes Fed meeting The mood of cautious optimism continues to prevail in the markets on Wednesday as several countries have begun or are preparing to ease their lockdown measures. Hopes that shuttered businesses will soon be able to reopen their doors has sparked a relief [..]
Threat of another crash in oil prices after biggest oil ETF dumps holdings in June contracts But markets otherwise enjoying a rare calm as lockdown measures are slowly relaxed Stocks and dollar hold steady but gold and kiwi skid Oil’s woes persist as WTI plunges WTI oil futures are on track for a second day of hefty losses as the commodity remains heavily pressured after the biggest oil exchange-traded fund (ETF) yesterday said it plans to sell all its WTI [..]
The e-commerce giant Amazon.com Inc will publish earnings results for the March quarter on April 30 after the market’s close. Despite the global health crisis, the virus situation bodes well for Jeff Bezos’ successful company and although forecasts suggest a mixed earnings report, traders may not easily give up their long exposure in the stock, with the consensus recommendation by Refinitiv analysts being “buy”. Amazon gains in good times and bad COVID-19 is shaking up the global business world, forcing hundreds of [..]
Amazon stock price reversed to the downside after the aggressive bullish action to the all-time high of 2,458. The RSI indicator is turning lower from the overbought zone, while the stochastic oscillator fell from the 80 level following the bearish crossover within the %K and %D lines. However, the MACD is still extending its bullish movement above the trigger line. Should the price decisively close above the roof of the record high of 2,458, that could drive the market towards [..]
This earnings season will be pivotal. With so little post-virus economic data so far, the real-time guidance by corporate executives could be invaluable. In a nutshell, while earnings and guidance will probably be gloomy overall, there might be huge contrasts between sectors. Industries like travel and energy will likely be decimated, whereas online retailers and home entertainment companies might have made a killing. All told, while significant downside risks remain for the market overall, some ‘value plays’ are also arising. [..]
Amazon stock aggressively gapped up near to 2,050 on 31 January and proceeded to plot a fresh all-time-high of 2,066.36 before correcting slightly below 2,034. Buyers’ efforts are currently steering the stock back up, a move aided by the upward sloping simple moving averages (SMAs) and the recent bullish crossover of the 200-day SMA by the 50-day one. Moreover, the technical indicators suggest positive momentum may keep up with the latest move, even though the RSI and Stochastics are located [..]
Amazon stock is currently trying to overcome the cojoined 100- and 200-period simple moving averages (SMAs) residing around the 1815 level, which also happens to be the 38.2% Fibonacci retracement of the down leg from 2034 to 1680. The stock has been gradually ascending from the low of 1680 and its recent up move is also backed by the technical indicators, which reflect improving sentiment. The MACD has risen above its red trigger line and into the positive region, while [..]
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