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Amazon
Ticker: NASDAQ:AMZN
Price: $3311.37
Amazon News
Jeff Bezos sold 1 million shares of his Amazon stock on Monday and Tuesday this week, according to new filings with the Securities and Exchange Commission.
The sale, which is worth $3 billion, helped increase the Amazon founder?s net worth by $10.5 billion on Wednesday, Bloomberg reported, one of the largest increases in a single day. It was part of a prearranged trading plan intended to comply with insider trading regulations. Bezos? ownership stake in the company is now 10.6%. He has sold about one-fifth of his holdings since the company went public in 1997, according to Bloomberg.
Amazon stock was trading between $2,950 and $3,075 per share on the days of the sale. The company?s stock value has surged by 75% this year as online shopping has increased during the pandemic. The company has also continued to expand its grocery delivery and cloud computing services. At its initial IPO in 1997, Amazon stock debuted at $18 per share.
Combined with two previous sales earlier this year, Bezos has now sold more than $10 billion worth of Amazon shares in 2020. According to Forbes, his estimated net worth is $189.6 billion, keeping him in the top spot of the world?s richest people.
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.
The projected upper bound is: 3,561.18.
The projected lower bound is: 3,058.01.
The projected closing price is: 3,309.60.
Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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 white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
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 89.8009. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 2 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 56.21. 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 45 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 105.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 2 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 0 period(s) ago.
Rex Takasugi – TD Profile
AMAZON COM closed down -10.630 at 3,311.370. Volume was 98% below average (consolidating) and Bollinger Bands were 2% narrower than normal.
Open High Low Close Volume 3,304.640 3,322.000 3,232.000 3,311.370 102,613
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 3,183.07 3,204.58 2,654.24 Volatility: 60 50 50 Volume: 5,565,931 5,283,823 5,249,945
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 24.8% 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 19 periods.
Is It Time To Sell Amazon (NASDAQ:AMZN) Stock? added by HEFFX on
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