Home Headline News Amazon.com, Inc. (NASDAQ:AMZN) Bezos Biggest Loser

Amazon.com, Inc. (NASDAQ:AMZN) Bezos Biggest Loser

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Amazon.com, Inc. (NASDAQ:AMZN) Bezos Biggest Loser

It’s easy-come, easy-go for the world’s wealthiest man, Amazon founder and CEO Jeff Bezos, who lost US$7 billion in paper wealth in the latest stock price downturn, and more than $18 billion over the past month.

Bezos’s overall wealth dropped to $110 billion, down from $117 billion, as Amazon’s shares fell seven percent.

The shares have since recovered slightly – but over the past month alone, Bezos’s wealth has fallen from $129 billion.

Hundreds of billions in paper wealth has disappeared from most of the world’s billionaires over the past month, but the latest declines could be the largest 24-hour wealth loss in nearly a decade.

Tesla CEO Elon Musk, who tweeted that the “coronavirus panic is dumb,” is down about $4 billion, bringing his losses for the month down to more than $12 billion.

Major Apple shareholder and iPhone convert Warren Buffett’s paper fortune fell $4 billion, bringing his total losses over the past month to $12 billion, and his total net worth to about $76 billion

Technical Indicators

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 2,019.78.

The projected lower bound is: 1,764.78.

The projected closing price is: 1,892.28.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 34.8163. This is not an overbought or oversold reading. The last signal was a buy 6 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 43.90. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 12 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -81. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 12 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed up 91.210 at 1,891.820. Volume was 85% above average (neutral) and Bollinger Bands were 146% wider than normal.

Open     High      Low     Close     Volume___
1,870.8801,894.2701,818.1701,891.820 7,133,310
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 1,910.40 1,954.94 1,851.44
Volatility: 65 42 29
Volume: 6,691,559 4,676,182 3,613,632

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

AMAZON COM is currently 2.2% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of AMZN.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on AMZN.O and have had this outlook for the last 8 periods.

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