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Amazon (NASDAQ:AMZN) Expected to Rise to $3750

$AMZN #Amazon #OnlineShopping #USA #Nasdaq #Stocks #Trading

Amazon
Ticker: NASDAQ:AMZN
Price: $3207.04

Amazon Outlook

Playing a more important role in keeping the Nasdaq’s losses in check were Apple and Amazon. Neither stock made huge gains on Monday, but their recovery into the green by the end of the day signaled that investors haven’t yet given up on the Nasdaq to make an end-of-year push toward record highs.

Amazon’s shareholders have Thursday marked on their calendars as well to see how the e-commerce giant is doing financially. With the annual Amazon Prime event having just occurred, those following the stock hope Amazon will say something about how it fared. Moreover, because the COVID-19 pandemic has pushed many companies to accelerate their digital transformation efforts, some expect Amazon’s Web Services division to post heightened growth rates.

As interesting as deals like a Dunkin’ acquisition can be, it’s far more important to the health of the Nasdaq’s bull market for Amazon and Apple to thrive. Without them, the stock market could quickly reverse course and bring what’s been an amazing recovery to an end.

Business Summary

Amazon.com, Inc. offers a range of products and services through its Websites.

The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It also manufactures and sells electronic devices.

It operates through three segments: North America, International and Amazon Web Services (AWS). Its AWS products include analytics, Amazon Athena, Amazon CloudSearch, Amazon EMR, Amazon Elasticsearch Service, Amazon Kinesis, Amazon Managed Streaming for Apache Kafka, Amazon Redshift, Amazon QuickSight, AWS Data Pipeline, AWS Glue and AWS Lake Formation.

AWS solutions include machine learning, analytics and data lakes, Internet of Things, serverless computing, containers, enterprise applications, and storage. In addition, the Company provides services, such as advertising.

It also offers Amazon Prime, a membership program that includes free shipping, access to streaming of various movies and television (TV) episodes.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 3,106.61.

The projected upper bound is: 3,435.01.

The projected lower bound is: 2,981.43.

The projected closing price is: 3,208.22.

Candlesticks

A white body occurred (because prices closed higher 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 24 white candles and 26 black candles for a net of 2 black candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

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 34.3780. This is not an overbought or oversold reading. The last signal was a buy 1 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 49.25. 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 36 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 -45. This is not a topping or bottoming area. 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 sell 4 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed up 2.640 at 3,207.040. Volume was 17% above average (neutral) and Bollinger Bands were 20% narrower than normal.

Open High Low Close Volume___
3,198.7403,282.9803,153.3003,207.040 5,901,151
Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 3,261.57 3,228.77 2,595.57
Volatility: 20 45 48
Volume: 5,117,730 5,059,926 5,145,957

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 23.6% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.

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 10 periods.

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