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Amazon (NASDAQ:AMZN) Stock Techincal Review

By HEFFX on November 25, 2020

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

Amazon
Ticker: NASDAQ:AMZN
Price: $3118.06

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: Sideways.

By the way, prices are vulnerable to a correction towards 3,111.90.

The projected upper bound is: 3,356.11.

The projected lower bound is: 2,878.48.

The projected closing price is: 3,117.30.

Candlesticks

A white body occurred (because prices closed higher 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 25 white candles and 25 black 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 35.6452. This is not an overbought or oversold reading. The last signal was a sell 11 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 47.42. 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 57 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 -40. This is not a topping or bottoming area. The last signal was a buy 9 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 10 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed up 19.670 at 3,118.060. Volume was 100% below average (consolidating) and Bollinger Bands were 25% narrower than normal.

Open       High        Low        Close       Volume
3,100.500  3,134.250   3,086.258  3,118.060   3,133
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bullish
Moving Averages: 10-period     50-period     200-period
Close:           3,118.15      3,161.49      2,721.40
Volatility:      22            48            50
Volume:          3,377,339     5,091,965     5,185,553

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 14.6% above its 200-period moving average and is in an downward 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 bearish on AMZN.O and have had this outlook for the last 10 periods.

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Amazon (NASDAQ:AMZN) Stock Techincal Review added by HEFFX on November 25, 2020
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HEFFX

HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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