Amazon.com Could Be Struggling After Uncertain Guidance
Amazon.com may be showing signs of weakness after another post-earnings drop.
The first pattern on today’s chart is the rising trendline along the lows of March and April. AMZN fell to that support last week after issuing so-so guidance and has remained there since. That could make some traders expect follow-through to the downside.
Next, the e-commerce giant also slid after its two previous reports in October and February.
Third, MACD has turned negative. That may suggest its short-term trend is now bearish.
Finally, AMZN’s April peak represented a lower quarterly high compared with February. That contrasts with the broader Nasdaq-100, which made higher highs in April and May.
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The first pattern on today’s chart is the rising trendline along the lows of March and April. AMZN fell to that support last week after issuing so-so guidance and has remained there since. That could make some traders expect follow-through to the downside.
Next, the e-commerce giant also slid after its two previous reports in October and February.
Third, MACD has turned negative. That may suggest its short-term trend is now bearish.
Finally, AMZN’s April peak represented a lower quarterly high compared with February. That contrasts with the broader Nasdaq-100, which made higher highs in April and May.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing in cryptocurrencies involves significant risks. Please click here for TradeStation Crypto’s risk disclosures on investing and trading in cryptocurrencies.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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