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Amazon Technical Analysis - Amazon Trading: 2024-03-07
Amazon Technical Analysis Summary
Below 173.17
Sell Stop
Above 176.36
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Neutral |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Sell |
Amazon Chart Analysis
Amazon Technical Analysis
The technical analysis of the AMAZON stock price chart on 4-hour timeframe shows #S-AMZN,H4 is retracing down toward the 200-period moving average MA(200) after hitting 28-month high three days ago. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 173.17. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the fractal high at 176.36. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (176.36) without reaching the order (173.17), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Amazon
Deutsche Bank raised Amazon share price target. Will the AMAZON stock price advancing resume?
Yesterday Deutsche Bank raised its Amazon.com Inc price target from $200.00 to $210.00 and maintained a Buy rating for the stock. The bullish stance is based on the projected growth in operating income that Amazon is expected to generate in the upcoming years. The bank's assessment suggests that Amazon is on track to achieve $4-6 billion in Prime Video advertising revenue in 2024 and 2025 – above current analysts’ estimates that anticipate only $9-10 billion in additional Amazon Advertising revenue for 2024. Another major bank - Morgan Stanley, forecasted Prime Video ads would generate $3.3 billion in revenue in 2024 worldwide, growing to $5.2 billion in 2025. Deutsche Bank has revised its 2024 and 2025 Operating Income estimates upward by 10% and 8%, respectively. Stock price closed down 0.35% over day despite the news.
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