Amazon.com, Inc. (NASDAQ:AMZN) Jeff Bezos finalized the terms of divorce

Amazon.com, Inc. (NASDAQ:AMZN) Jeff Bezos finalized the terms of divorce

Amazon.com, Inc. (NASDAQ:AMZN) Jeff Bezos finalized the terms of divorce

The Bezos have finalized the terms of their divorce, with Amazon CEO Jeff Bezos retaining 75% of the couple’s stake and all interests in the Washington Post and the space-travel company Blue Origin, MacKenzie said in a Thursday tweet.

Jeff will hold onto 59.1 million shares of Amazon, good for $106.7 billion stake in the company. Meanwhile, MacKenzie will keep 19.7 million shares, worth $35.6 billion at Thursday’s price. MacKenzie has also given all of her voting rights to Jeff, assuring his control over the company. 

Together, the couple owned 78.8 million shares, or about 16% of the company. Amazon shares ended Thursday down 0.4% at $1,812 apiece following the news. 

Markets had initially feared a messy divorce might disrupt Amazon’s business. 

Amazon shares were up 20.6% this year through Thursday.

Overall, the bias in prices is: Upwards.

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

By the way, prices are vulnerable to a correction towards 1,702.35.

The projected upper bound is: 1,907.98.

The projected lower bound is: 1,736.89.

The projected closing price is: 1,822.44.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white 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 87.0433. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 8 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 66.92. 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 9 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 103.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 8 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 buy 18 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed down -1.840 at 1,818.860. Volume was 37% below average (neutral) and Bollinger Bands were 7% narrower than normal.

Open High Low Close Volume___
1,820.6501,828.7501,804.2001,818.860 3,623,867

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1,791.04 1,685.97 1,736.87
Volatility: 23 33 46
Volume: 4,231,255 4,645,491 5,702,701

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 4.7% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into AMZN.O (mildly bullish). Our trend forecasting oscillators are currently bullish on AMZN.O and have had this outlook for the last 18 periods.

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