Amazon.com, Inc. (NASDAQ:AMZN) Expands Tablet Portfolio With Fire HD 10 Launch

Amazon.com, Inc. (NASDAQ:AMZN) Expands Tablet Portfolio With Fire HD 10 Launch

Amazon.com, Inc. (NASDAQ:AMZN) Expands Tablet Portfolio With Fire HD 10 Launch

Amazon AMZN is leaving no stone unturned to bolster presence in the world of entertainment by expanding its tablet portfolio.

Recently, the company unveiled the latest version of its Fire HD 10 tablet, which offers access to more than 450,000 Audible titles and more than 570,000 apps and games. Further, users will be able to enjoy many TV episodes, e-books and millions of songs on this device.

Additionally, the device provides hands-free access to Alexa. This will enable the users to use voice commands to play movies or songs, make calls, display weather updates, check sports scores and other tasks.

Further, the new tablet also features new Picture-in-Picture which allows video streaming from Prime, Netflix, STARZ, SHOWTIME and Twitch, while surfing Facebook, browsing web, checking mails and much more simultaneously.

Further, the Fire HD 10 comes with 32 GB or 64 GB of internal storage, expandable up to 512 GB, and 12 hours of battery life.

With these features, the company will be able to cater better to its customers and drive tablet sales figures. Consequently, this will aid the revenue generation of the company.

Technical Indicators

Overall, the bias in prices is: Downwards.

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

By the way, prices are vulnerable to a correction towards 1,810.35.

The projected upper bound is: 1,791.89.

The projected lower bound is: 1,645.03.

The projected closing price is: 1,718.46.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 21 white candles and 29 black candles for a net of 8 black candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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 53.5394. 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 40.15. 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 buy 44 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 -62. This is not a topping or bottoming area. The last signal was a buy 3 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 16.480 at 1,721.990. Volume was 37% below average (neutral) and Bollinger Bands were 5% narrower than normal.

Open     High      Low     Close     Volume___
1,719.6101,729.9501,714.3601,721.990 2,089,335
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period     50-period     200-period
Close: 1,727.43 1,787.65 1,784.58
Volatility: 19 26 32
Volume: 2,980,711 3,319,808 4,239,435

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 3.5% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of AMZN.O (mildly bearish). Our trend forecasting oscillators are currently bearish on AMZN.O and have had this outlook for the last 8 periods.

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