Amazon.com, Inc. (NASDAQ:AMZN) will be looking to continue its solid performance

Amazon.com, Inc. (NASDAQ:AMZN) will be looking to continue its solid performance

Amazon.com, Inc. (NASDAQ:AMZN) will be looking to continue its solid performance

Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Is Amazon.com (AMZN) one of those stocks right now? A quick glance at the company’s year-to-date performance in comparison to the rest of the Retail-Wholesale sector should help us answer this question.

Amazon.com is one of 223 companies in the Retail-Wholesale group. The Retail-Wholesale group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AMZN is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for AMZN’s full-year earnings has moved 2.21% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Based on the latest available data, AMZN has gained about 20.77% so far this year. At the same time, Retail-Wholesale stocks have gained an average of 15.36%. This means that Amazon.com is performing better than its sector in terms of year-to-date returns.

Breaking things down more, AMZN is a member of the Internet – Commerce industry, which includes 28 individual companies and currently sits at #168 in the Zacks Industry Rank. On average, stocks in this group have gained 23.77% this year, meaning that AMZN is slightly underperforming its industry in terms of year-to-date returns.

Investors with an interest in Retail-Wholesale stocks should continue to track AMZN. The stock will be looking to continue its solid performance.

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 1,696.97.

The projected upper bound is: 1,910.00.

The projected lower bound is: 1,738.94.

The projected closing price is: 1,824.47.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white 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 92.3926. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 7 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 67.45. 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 8 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 118.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 7 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 17 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed up 6.720 at 1,820.700. Volume was 32% below average (neutral) and Bollinger Bands were 0% narrower than normal.

Open High Low Close Volume___
1,826.7201,830.0001,809.6201,820.700 3,980,590

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

Moving Averages: 10-period 50-period 200-period
Close: 1,791.08 1,682.39 1,736.40
Volatility: 24 33 46
Volume: 4,445,648 4,677,518 5,700,121

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 4.9% above 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 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 17 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.


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