Amazon.com, Inc. (NASDAQ:AMZN) to lease 15 more Boeing 737-800s through GECAS

Amazon.com, Inc. (NASDAQ:AMZN) to lease 15 more Boeing 737-800s through GECAS

Amazon.com, Inc. (NASDAQ:AMZN) to lease 15 more Boeing 737-800s through GECAS

Amazon.com Inc. AMZN, +0.81% said Tuesday it will lease 15 737-800 cargo aircraft made by Boeing Co. BA, +5.37% through a partnership with General Electric Co.’s GE, +3.68% GE Capital Aviation Services (GECAS). The 15 aircraft will be in addition to the five Boeing 737-800s already leased from GECAS, announced earlier this year.

“These new aircraft create additional capacity for Amazon Air, building on the investment in our Prime Free One-Day program,” said Dave Clark, senior vice president of worldwide operations at Amazon.

“By 2021, Amazon Air will have a portfolio of 70 aircraft flying in our dedicated air network.” Amazon’s stock rose 0.9% in premarket trading, while Boeing shares climbed 1.3% and GE’s stock tacked on 0.9%. The shares gains come as futures YMM19, +0.05% for the Dow Jones Industrial Average DJIA, +1.35% rallied 144 points.

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 1,822.29.

The projected upper bound is: 1,986.78.

The projected lower bound is: 1,818.53.

The projected closing price is: 1,902.65.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 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 doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 6 rising windows in the last 50 candles–this makes the current rising window even more bullish.

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 73.5739. This is not an overbought or oversold reading. The last signal was a sell 2 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 60.76. 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 10 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 105.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 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 buy 6 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed up 15.340 at 1,901.370. Volume was 9% below average (neutral) and Bollinger Bands were 36% wider than normal.

Open High Low Close Volume___
1,901.3501,921.6701,899.7901,901.370 3,895,728

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

Moving Averages: 10-period 50-period 200-period
Close: 1,840.39 1,860.76 1,748.95
Volatility: 21 29 46
Volume: 3,700,638 4,247,208 5,651,676

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 gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
AMAZON COM is currently 8.7% 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 volume flowing into and out of AMZN.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AMZN.O and have had this outlook for the last 0 periods.

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