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AMZN trade ideas

W PatternRoom to run if conditions support it. Price is trying to stay above the diagonal resistance line so I turned it orange as it is not clear it is a support line yet. I would turn it green if strong support and blue if new support. New patterns may emerge, but there is a discombobulated triangle that is loose versus tight. Tight triangles with price filling the space are more reliable than loose triangles which consist of a lot of open space. Valley 2 is higher than valley 1. Possible Bat. Bat patterns normally continue to the .886 and an Alternate Bat to the 1.113. Patterns morph over trading days so no way to know for sure. No recommendation
NASDAQ:AMZN
by lauralea
2
AMZN near term forecastSee linked post on the bigger picture for AMZN, here is my expectations near term (follow the thin solid black line, the thick solid black line is the bigger picture trajectory; the dashed black line is alt path): AMZN is still in a corrective structure - trying to complete B-wave. Here is a summary of what I'm expecting - Point target to complete B-wave is 137. Expecting pullback to 118-119 going into earnings and then one final leg higher to 135-140 after earnings, topping by end of August. - C wave will bottom in the 50-70 range, with more precise target 58-61. This will happen by May 2024, but could be realized as soon as Jan. 2024... this means AMZN will be cut in half in a matter of months from September 2023 to early 2024. Important levels: 123-125: needs to break this down to test 118 118: if this holds AMZN can pop to 137, if it falls next support is 109 and then 101 94 and 101: equilibrium points, drop below these will confirm the drop to low 60s to complete C-wave
NASDAQ:AMZN
by JerryManders
AMZN bigger pictureAMZN is still in a corrective structure - trying to complete B-wave. Here is a summary of what I'm expecting, I'll post another idea for near term forecast/path to breakdown: - Point target to complete B-wave is 137. Expecting pullback to 118-119 going into earnings and then one final leg higher to 135-140 after earnings, topping by end of August. - C wave will bottom in the 50-70 range, with more precise target 58-61. This will happen by May 2024, but could be realized as soon as Jan. 2024... this means AMZN will be cut in half in a matter of months from September 2023 to early 2024. Important levels: 123-125: needs to break this down to test 118 118: if this holds AMZN can pop to 137, if it falls next support is 109 and then 101 94 and 101: equilibrium points, drop below these will confirm the drop to low 60s to complete C-wave Solid Black trajectory is expected path --------------------- The Alt path (dashed black) is an initial drop to 101-109, followed by leg higher to 140-150 before starting drop to low 60s
NASDAQ:AMZNShort
by JerryManders
AMZN Do Bearish Divergences Predict a Reversal? SHORTAMZN has ascended 15% in the past two months. As shown on the 4H chart, dynamic resistance has been the red lines designating two standard deviations above mean VWAPs are anchored in February and early May. The two indicators however suggest bearish divergence. The zero-lag has lower highs and lower lows on the K / D line excursions. The Chris Moody dual RSI shows the RSI on the blue daily time frame dropping and crossing under the black weekly time frame RSI. Fundamentally, according to the linked article AMZN typically drops 0.34% on Prime Day. Based on all of this, I am expecting a reversal. Upon confirmation, I will short Amazon in a possible Fibonacci style retracement.
NASDAQ:AMZNShort
by AwesomeAvani
3
Amazon's Resilience: Navigating Challenges and Emerging StrongerAmazon has come a long way since its inception as an online bookseller in 1994. Its stock has witnessed an astounding growth of over 130,000% since going public three years later. Today, Amazon's business spans across a wide range of products, digital services, grocery operations, space satellites, and cloud computing. With its dominance in e-commerce and the cloud industry, one might think that the ideal time to invest in Amazon has passed. However, despite its remarkable growth, e-commerce sales only accounted for 15% of total retail sales last year, indicating that there is still untapped potential in the market. Furthermore, the increasing demand for artificial intelligence (AI) is projected to fuel revenue in the cloud sector as businesses increasingly rely on AI services. With a strong foothold in both these markets, Amazon's long-term prospects remain promising. Hence, it is still an opportune time to consider investing in Amazon stock. The introduction of OpenAI's ChatGPT last year left the tech industry astounded with its ability to generate human-like conversations, pushing the boundaries of AI capabilities. This breakthrough prompted numerous companies to redirect their focus towards AI development. Cloud computing has emerged as a major beneficiary of the AI revolution, as businesses strive to leverage this technology to enhance their offerings. While Amazon may have initially seemed behind in this domain, its cloud competitor Microsoft secured exclusive licenses to utilize several of OpenAI's AI models. However, Amazon has since made significant progress in generative AI. For years, the e-commerce giant has been using AI in its retail operations to track consumer shopping patterns, offer personalized recommendations, and optimize shipping logistics. Leveraging its expertise, Amazon has developed an AI model called Amazon Bedrock, which excels in advanced generative AI tasks like creating comprehensive social media campaigns based on product descriptions. In April, the company announced that Amazon Bedrock would be accessible to Amazon Web Services (AWS) users, alongside a tool called Code Whisperer. This innovative service empowers developers to input their desired outcomes and receive customized code solutions tailored to their specific needs. While Amazon may have initially lagged in AI services, its dominant market share in the cloud industry positions it advantageously. By impressing AWS users with its current AI models, the company is poised to maintain its leadership and capitalize on the rapidly expanding AI market. Amazon faced significant challenges last year, with reduced consumer spending and substantial operating losses in its e-commerce segments. AWS also experienced a slowdown in growth due to businesses cutting back on cloud budgets. In evaluating Amazon's prospects, it becomes crucial to take a long-term perspective, considering its strong position in two pivotal markets that are likely to yield favorable results over time. Encouragingly, the first quarter of 2023 indicates a recovery in Amazon's e-commerce business. The North American segment returned to profitability, reporting $898 million in operating income, while the international segment showed slight improvement. As inflationary pressures subside and Amazon benefits from budget adjustments, the company is expected to continue improving its e-commerce performance. With its dominant market position, Amazon is poised for consistent long-term growth. Unfortunately, AWS experienced further deceleration in earnings growth during Q1 2023. However, Amazon is still in the early stages of its venture into AI cloud services. The extensive retail knowledge accumulated by the company can be a significant advantage in developing efficient AI models for AWS, while its leading market share continues to attract new users. Despite a 54% year-to-date increase, Amazon's stock remains 44% below its peak in July 2021. This suggests that there is still potential for a bullish trend. With its strong positions in expanding markets and room for growth, it is not too late to capitalize on Amazon's long-term prospects and potential profitability.
NASDAQ:AMZNLong
by FOREXN1
18