Shares of Amazon.com Inc. AMZN, +0.30% inched 0.31% higher to $3,217.01 Tuesday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +0.47% rising 0.47% to 3,443.12 and the Dow Jones Industrial Average DJIA, +0.40% rising 0.40% to 28,308.79. The stock’s rise snapped a four-day losing streak. Amazon.com Inc. closed $335.24 below its 52-week high ($3,552.25), which the company reached on September 2nd.
The stock demonstrated a mixed performance when compared to some of its competitors Tuesday, as Microsoft Corp. MSFT, +0.20% rose 0.20% to $214.65, Alphabet Inc. Cl A GOOGL, +1.38% rose 1.38% to $1,551.08, and Walmart Inc. WMT, +0.66% rose 0.66% to $143.90. Trading volume (4.4 M) remained 479,565 below its 50-day average volume of 4.9 M.
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.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 3,092.41.
The projected upper bound is: 3,448.90.
The projected lower bound is: 2,987.87.
The projected closing price is: 3,218.39.
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.
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.
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 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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 22.2835. This is not an overbought or oversold reading. The last signal was a sell 4 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 49.52. 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 32 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 -28. This is not a topping or bottoming area. The last signal was a sell 3 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.
Rex Takasugi – TD Profile
AMAZON COM closed up 9.800 at 3,217.010. Volume was 9% below average (neutral) and Bollinger Bands were 1% wider than normal.
Open High Low Close Volume 3,222.280 3,266.000 3,192.010 3,217.010 4,509,678
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 3,295.87 3,224.36 2,569.62 Volatility: 44 46 48 Volume: 5,376,034 4,959,395 5,123,483
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.
AMAZON COM is currently 25.2% 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 6 periods.