Amazon pulled away from a nine-month high of 2032 in the previous weeks, to halt yesterday at the 23.6% Fibonacci retracement level of the up move, from 1670 to 2032, of 1949. The 21-day simple moving average (SMA) is also very close and a hammer formation has taken shape, pushing the price above the resistance of 1964. The momentum indicators are suggesting that the sentiment may turn negative as the MACD has dived below its trigger line and RSI nears [..]
Amazon stock has been experiencing a one-month bullish rally from a pullback move at the beginning of May to a low of 1670, and today broke aggressively above the seven-month high of 1964. With the help of short- and medium-term simple moving averages (SMAs) of 14 -, 21- and 40-day SMAs respectively, bullish crosses are in place confirming the momentum and positive trend which is in progress towards the highs. The MACD and the RSI are also supporting the bullish [..]
US dollar continues to nosedive as Treasury yields touch fresh lows on rising rate cut expectations RBA cuts rates but Australian dollar defiant as it climbs to 3-week high Tech stocks tumble as US giants, including Facebook and Apple, face antitrust probe Dollar sell-off shows no sign of abating The US currency is headed for its third straight day of sharp losses against a basket of currencies as traders continue to price in an increasing probability that the Federal Reserve [..]
Amazon has been creating higher highs and higher lows after the rebound on the 1305 support level, jumping to a fresh six-month high of 1928 on April 23. Chances for a downside reversal, however, are increasing as the RSI indicator dropped below the overbought territory and the stochastic oscillator posted a bearish crossover within the %K and %D lines. Another step lower may reach a key support at the 20-simple moving average (SMA) currently at 1867, marginally above the 1852 [..]
The world’s biggest online retailer will announce its earnings for Q1 after the US market close on Thursday. Revenue is expected to slow, but profit growth is seen picking up, something that reflects the company’s recent approach of focusing on operating margins. Guidance by management for Q2 will be crucial for the stock’s reaction in the aftermath. The e-commerce giant is expected to report earnings per share (EPS) of $4.72 in Q1, which would represent a robust 44.5% increase from [..]
Dollar unable to rally even after US payrolls smash expectations Risk sentiment mostly in positive territory today amid trade optimism Aussie on the back foot ahead of RBA decision Dollar unimpressed by strong US data, as Fed casts shadow Nonfarm payrolls smashed expectations in January, clocking in at a robust 304k, much higher than the anticipated 165k – though last month’s print was revised down significantly, mitigating some of the good news. Wage growth held steady at 3.2% in annual [..]
Fed removes guidance for more hikes; dollar crumbles, stocks soar Trade talks conclude today – any signs of progress crucial for markets Eurozone releases GDP data, risks seem skewed to the downside Dollar drops, stocks roar as Fed folds on further rate hikes While the Fed kept rates unchanged as expected yesterday, the meeting wasn’t short of surprises. Policymakers adopted an even more cautious tone, dropping the reference that further gradual rate hikes will be needed, instead reiterating the mantra [..]
Ebay Inc and Amazon.com Inc report earnings results on Tuesday and Thursday respectively. Reuters analysts assign an average recommendation of “buy” for Amazon’s shares, whereas for Ebay the average recommendation is “hold”. Amazon.com Inc The third quarter was a market disappointment for Jeff Bezos’ e-commerce giant Amazon.com Inc. Despite earnings beating analysts’ estimates at $5.75 per share, company’s revenues missed forecasts, clocking in at $56.6 billion versus $57.10bln expected. its revenue guidance for the fourth quarter was also under consensus [..]
Amazon stock price rebounded after touching a seven-month low on November 20, however it still trades below the 200-day simple moving average (SMA). Having a look at the momentum indicators, they are giving mixed signals. On the one hand the MACD is reducing its negative momentum, while the stochastic is turning slightly lower in the overbought zone, signaling possible losses. Also, the RSI is flattening, marginally above the neutral threshold of 50. Advances may stall initially near the 200-day SMA, which stands around yesterday’s high of 1694. A clear climb above [..]
Here are the latest developments in global markets: FOREX: The dollar is nearly 0.3% lower against a basket of six major currencies on Friday, looking set to post a third day of declines in a row, without any fresh catalyst behind these moves. Meanwhile, the British pound soared on Thursday, buoyed by news that EU and UK negotiators reached an accord on the draft political declaration, setting the stage for the deal to be approved by EU leaders over the weekend. [..]
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