Amazon.com, Inc. (NASDAQ:AMZN) wants to be greener

Amazon.com, Inc. (NASDAQ:AMZN) wants to be greener

Amazon.com, Inc. (NASDAQ:AMZN) wants to be greener

Amazon, which ships millions of packages a year to shopper’s doorsteps, says it wants to be greener.

The online retail giant announced plans Monday to make half of all its shipments carbon neutral by 2030.

To reach that goal, the online retail giant says it will use more renewable energy like solar power; have more packages delivered in electric vans; and push suppliers to remake their packaging.

McDonald’s, Coca-Cola and other big companies that generate lots of waste have announced similar initiatives, hoping to appeal to customers concerned about the environment.

Amazon is calling its program “Shipment Zero,” and plans to publicly publish its carbon footprint for the first time later this year.

Seattle-based Amazon said it spent the past two years mapping its carbon footprint and figuring out ways to reduce carbon use across the company.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,740.54.

The projected lower bound is: 1,468.79.

The projected closing price is: 1,604.66.

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 23 white candles and 27 black candles for a net of 4 black candles.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

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 60.5253. This is not an overbought or oversold reading. The last signal was a sell 18 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 47.57. 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 35 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 -50. 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 14 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed down -14.700 at 1,607.950. Volume was 39% below average (neutral) and Bollinger Bands were 59% narrower than normal.

Open High Low Close Volume___
1,627.8601,628.9101,604.5001,607.950 4,343,893

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

Moving Averages: 10-period 50-period 200-period
Close: 1,623.46 1,603.17 1,723.59
Volatility: 27 55 45
Volume: 4,380,689 6,745,576 5,541,478

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 6.7% below its 200-period moving average and is in an upward trend. Volatility is relatively normal 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 27 periods.

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