Amazon.com, Inc. (NASDAQ:AMZN) The Race To $1000 Against Alphabet

Amazon.com, Inc. (NASDAQ:AMZN) The Race To $1000 Against Alphabet

Amazon.com, Inc. (NASDAQ:AMZN) The Race To $1000 Against Alphabet

  • Amazon is opening a new bookstore in New York
  • Investor Jason Calacanis believes it’s a way for Amazon to secure more Prime customers
  • “You are talking about generating tens of millions of dollars per store if you could convert 50 people to Amazon Prime,” Calacanis told CNBC.
  • Amazon and Alphabet are racing to a $1,000 share price
  • Both companies hit record highs on Wednesday
  • Amazon is succeeding while retail continues to fail
  • Google announced new tools to help advertisers target consumers more accurately
  • Amazon announced the launch of Amazon Channels in the UK and Germany

Amazon.com, Inc. offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx. The International segment primarily consists of retail sales of consumer products (including from sellers) and subscriptions through internationally-focused Websites, such as www.amazon.com.au, www.amazon.nl, www.amazon.es and www.amazon.co.uk. The AWS segment consists of sales of compute, storage, database, and other service offerings for start-ups, enterprises, government agencies and academic institutions. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It manufactures and sells electronic devices.

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

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

By the way, prices are vulnerable to a correction towards 905.76.

The projected upper bound is: 1,008.69.

The projected lower bound is: 957.12.

The projected closing price is: 982.91.

AMAZON COM closed up 8.810 at 980.350. Volume was 27% below average (neutral) and Bollinger Bands were 1% narrower than normal.

Open            High             Low             Close            Volume
976.000      981.000      970.230      980.350      2,463,052

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

Moving Averages: 10-period        50-period       200-period
Close:                       961.87             909.63            824.87
Volatility:                20                    18                     23
Volume:                   3,379,448      3,449,989      3,485,051

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 18.8% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 53 periods. Our momentum oscillator is currently indicating that AMZN.O is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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 94.6922. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 70.48. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 5 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 148.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 5 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 0 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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