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AMZN trade ideas

AMZN - LONGSupport and down leg breakout with what looks like selling climax. $195+ target soon. The expectation for Amazon's next earnings report, scheduled for August 1, 2024, is generally bullish. Analysts anticipate significant year-over-year increases in both revenue and profit. The consensus estimate for earnings per share (EPS) is around $1.06, compared to $0.84 in the previous quarter. Revenue is expected to rise to approximately $166.19 billion, up from $142.63 billion in the same quarter last year. Several factors contribute to this optimistic outlook. Amazon's advertising business is projected to grow substantially, with analysts forecasting a 24.5% increase in advertising revenue for the first quarter and continued growth throughout the year. Additionally, the company's advancements in AI and the rollout of ads on Prime Video are seen as key drivers for future growth. Overall, the sentiment among analysts is positive, with expectations of robust financial performance driven by strong growth in various business segments.
NASDAQ:AMZNLong
by SPYDERMARKET
Analysis of AMZN Stock: Price at 1.5-Month LowAnalysis of AMZN Stock: Price at 1.5-Month Low As shown in the AMZN chart, the stock price dropped below: → the psychological level of $180; → the mid-June interim low. The last time AMZN traded below $180 was in early June. Thus, AMZN has faced sell-offs, similar to other tech stocks whose charts we've published this week. A widely mentioned reason for the sell-offs is investor rotation, moving capital from overbought tech stocks to shares in other sectors. Will AMZN's price drop further? Fundamentally, bulls might find hope in speculation that: → the company might start paying dividends. Rumours suggest the company has accumulated $100 billion in cash; → Amazon in Austin, Texas, is developing its own AI chip to compete with Nvidia. Technical analysis of the AMZN stock chart also provides reasons to expect a recovery (at least in the short term): → The price is near the lower boundary of an ascending channel that has been in place in 2024, which may act as support. → The false breach of the $180 psychological level could also support the price by altering the supply-demand balance. → Below yesterday's low is the $175 level, which has repeatedly shown support in 2024, as indicated by arrows. A bounce from these supports could provide valuable insights into the bulls' aggressiveness. Meanwhile, forecasts are optimistic. According to TipRanks, all 44 Wall Street analysts recommend buying AMZN stock, with an average price target of $224.60 (nearly +25% from current levels) within 12 months, surpassing the current high around the psychological level of $200. Note that analysts' opinions may change after the Q2 earnings report, scheduled for August 1. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:AMZN
by FXOpen
2
AMZN is at weekly and daily demand zones.NASDAQ:AMZN is at key weekly and daily demand zones which have held up for the past several months. The daily 100 EMA and weekly 20 EMA have served as strong demand zones on this entire move higher after last earnings season, and we have been swinging the stock long from these levels in the $170s, before scaling out at $190 and $200 targets. This dip into $182 is a great level to reload equity that was sold into targets for a potential move back to highs. The trade will be invalidated if it builds below these levels; however, entry here provides favorable reward-to-risk ratio.
NASDAQ:AMZNLong
by DMT_Doctor
4
AMAZON Stock Chart Fibonacci Analysis 071824Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 184/61.80% Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : C A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the Support D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
NASDAQ:AMZN
by fibonacci6180