Amazon Technical Analysis and Market News
02 Sep 2022
AMAZON.COM Inc.: NEWS & TECHNICAL
Amazon staff at UK warehouse ‘ready to strike’ over pay, says union
In the most recent labour conflict involving the British employees of the American e-commerce giant, Amazon employees at a warehouse in Coventry, central England, have voted in favour of strike action over compensation, a union reported on Friday.
97% of workers who participated in a consultative poll of more than 300 employees said they were prepared to strike, according to the GMB union. It will now have a staff meeting to go over the next steps, maybe including a formal vote on strike action.
Amazon (NASDAQ:AMZN) employees are rightfully enraged and prepared to strike, according to GMB Senior Organiser Amanda Gearing. They are receiving an hourly wage of 35p from a firm worth more than a trillion pounds, despite the greatest economic downturn in a century.
As skyrocketing inflation outpaces salary increases, rising living expenses have provoked a wave of industrial discontent across businesses in Britain.
Last month, hundreds of Amazon employees at a warehouse in southeast England’s Tilbury staged a walkout in opposition to a salary hike of 35 pence per hour, which was less than the 2-pound increase demanded by the GMB.
AMAZON.COM INC. Technical Analysis: Daily Chart
In the daily charts, AMAZON.COM INC. is trading in down channel. AMAZON.COM INC. is currently trading below 20 days SMA & above 50 and 100 days SMA.
RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 126.58 & the resistance level is at 131.74.
AMAZON.COM INC. will trade in down channel until there is trend reversal.
How to Trade AMAZON.COM INC. this Week:
AMAZON.COM INC. will follow the downtrend until their trend reversal. So, remain bearish on AMAZON.COM INC..