Amazon.com, Inc. (NASDAQ:AMZN) may soon come under the scrutiny of federal regulators

Amazon.com, Inc. (NASDAQ:AMZN) may soon come under the scrutiny of federal regulators

Amazon.com, Inc. (NASDAQ:AMZN) may soon come under the scrutiny of federal regulators

An Amazon executive said Wednesday that the online shopping giant isn’t too big and shouldn’t be broken up, but added that large companies deserve to be examined.

Amazon and other big tech companies are facing scrutiny from government agencies that are looking into their business practices. In addition, Democratic presidential candidate Elizabeth Warren has called for the breakup of large tech companies like Amazon AMZN, +0.52% .

“I think that substantial entities in the economy deserve scrutiny,’” said Jeff Wilke, who runs Amazon’s retail business and reports to CEO and founder Jeff Bezos. “Our job is to build the kind of company that passes that scrutiny.”

Wilke made the comments during a meeting with reporters at an Amazon conference in Las Vegas focused on artificial intelligence.

He also defended the company from criticism that it hurts its sellers by creating competing Amazon private-label products. The company has developed many private-label goods, including Solimo paper towels and Amazon Basics batteries. But Wilke said that no one inside Amazon shares seller data to create new products and said that its private-label brand business accounts for less than 1% of sales.

“It’s a tiny fraction of our business,” he said. “Most of our competitors have much larger percentage of their sales in private label.

Overall, the bias in prices is: Downwards.

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

The projected upper bound is: 1,816.79.

The projected lower bound is: 1,658.78.

The projected closing price is: 1,737.78.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 20 white candles and 30 black candles for a net of 10 black candles.

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 29.3767. This is not an overbought or oversold reading. The last signal was a buy 0 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 36.40. 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 1 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 -116.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 4 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 23 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed up 8.940 at 1,738.500. Volume was 6% below average (neutral) and Bollinger Bands were 49% wider than normal.

Open High Low Close Volume___
1,749.6001,752.0001,715.2511,738.500 4,239,782

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 1,790.62 1,851.62 1,751.69
Volatility: 36 27 46
Volume: 4,499,281 4,281,601 5,651,432

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 0.8% below 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 16 periods.

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