| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 181.05 |
| Take Profit | 166.50 |
| Stop Loss | 185.00 |
| Key Levels | 166.50, 181.10, 189.50, 200.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 189.55 |
| Take Profit | 200.00 |
| Stop Loss | 185.00 |
| Key Levels | 166.50, 181.10, 189.50, 200.00 |
Current trend
Shares of Amazon.com Inc., the leader in e-commerce, are adjusting at 186.00.
Yesterday it became known that the company faced problems with its Amazon Italia Transport logistics division in Italy, where the tax police seized about 121.0 million euros as part of an investigation into alleged violations of the law. The management is accused of non-payment of value-added taxes and reduction of social employment payments for employees, and if the crimes are proven, the amount of fine is likely to increase many times. Despite this, Loop Capital analysts confirmed the rating of the issuer's shares at the "buy" level with a target price of 225.0 dollars. In their opinion, Amazon.com Inc. has already included potential revenue of up to 150.0 billion dollars from advertising campaigns in the statistics of the next few years, which is much higher than the 47.0 billion dollars recorded last year.
On August 1, the company will publish a quarterly report: revenue is expected to reach 148.64 billion dollars, which is much higher than 134.4 billion dollars a year earlier, and earnings per share (EPS) may amount to 1.02 dollars, also exceeding last year's figure of 0.65 dollars.
Support and resistance
On the D1 chart, the asset is trading just above the support line of the channel with the boundaries of 200.00–183.00.
Technical indicators hold a sell signal: the range of the EMAs fluctuations is expanding, and AO histogram is decreasing in the sales area.
Support levels: 181.10, 166.50.
Resistance levels: 189.50, 200.00.
Trading tips
In the event of a reversal and the beginning of a decline in the asset and the price consolidating below the support level of 181.10, one can open short positions with the target of 166.50 and stop-loss of 185.00. Implementation period: 7 days and more.
In case of continued local growth of the asset, as well as price consolidation above the resistance level of 189.50, one may open long positions with the target of 200.00 and stop-loss of 185.00.
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