Amazon Snaps a 6 Day Down Streak

The Hourly View for Amazon

  • At the time of this writing, AMZN’s price is up $8.7 (0.27%) from the hour prior.
  • The hourly chart shows that Amazon has seen 2 straight up hours.
  • Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Amazon’s hourly price chart is shown below.

AMZN

The Daily View for Amazon

  • Currently, AMZN’s price is up $52.23 (1.64%) from the day prior.
  • Amazon has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Of note is that the 200 day changed directions on AMZN; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Amazon.

AMZN

Featured Amazon Idea From TradingView

Below is a trading comment entitled GOOGLE Alphabet | Fundamental Analysis + NEXT TARGET you may find interesting:

Alphabet, the parent company of Google, is one of the largest technology businesses in the world. If you had invested $1,000 in the company’s IPO back then, your investment would be worth about $63,500 today.That’s great news for early investors, but those who don’t already own Alphabet may wonder if it’s too late to buy stock in this FAANG company. Today we’ll look at a few convincing judgments to buy Alphabet, as well as one reason to sell it, to see if it’s still a good long-term investment.First, the company is a powerful energy in online advertising.Alphabet’s expansive ecosystem includes the world’s most popular search engine, a mobile operating system (Android), a streaming video site (YouTube), a Web browser (Chrome), and an e-mail platform (Gmail).All of these platforms support Google’s core advertising business, which sells search, display, and video ads on all of its platforms. According to eMarketer, Google is likely to account for 28.6 percent of all digital ad spending worldwide this year, putting it in the first place, ahead of Facebook’s 25.2 percent.All of Google’s smaller competitors and Facebook – such as Alibaba, Amazon, and Tencent Holdings – still hold single-digit shares of the digital advertising market. So any business looking to advertise online is likely to visit Google and Facebook before considering other platforms.Last year, Alphabet’s ad revenue from Google grew 9% to $146.9 billion, or 80% of the company’s total revenue, even though the pandemic caused businesses to buy fewer ads. In the first half of 2021, Google’s ad revenue grew 50% year over year to $95.1 billion as the negative factors associated with the pandemic subsided.Second is the growth of Google Cloud.Google’s advertising business slowed temporarily in 2020, but Google Cloud revenue grew 46% to $13.1 billion as cloud usage accelerated during the pandemic. In the first half of 2021, segment revenues grew another 50% year over year to $8.7 billion.Google Cloud is not yet profitable, according to Canalys, and it still ranks a distant third in …

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