AMAZON EARNINGS DUE ON THURSDAY-MARKET LOOKING BULLISH
Amazon.com Inc. will report its Earnings on Thursday after the markets close. The closing price of Amazon stock on Tuesday was $1828.14 per share and the stock has been losing strength over the last five trading sessions. The stock constitutes 10.38% and 3.04% of the Nasdaq 100 and the S&P 500 respectively. The Nasdaq 100 and the S&P 500 rose 0.47% and 0.48% yesterday respectively. According to Reuters, Amazon recently setup its business in Cape Town. In other related news, Amazon said on Tuesday that it has added the option for shoppers to get Whole Foods delivered to their doors in the New York and Florida area.
On the technical front, the RSI is currently at 66.91% and suggests that the market may head upwards. The %K has crossed the %D from below to the upside at 75.01% and suggests that market may go upwards. The MACD indicator also generates Buying signal, as the Fast line is above the slow line and both are above zero.
TRADE SUGGESTION- LIMIT BUY AT 1826 TAKE PROFIT AT 1842 STOP LOSS AT 1818