Amazon PT Hikes After Revenue Beats Estimates

Amazon stock has received a series of upgrades after the company reported a big revenue beat. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $1.09. Horrible miss on earnings but Amazon crushed it on revenue. The company had revenue of $43.74 billion for the quarter versus the estimate of $42.26 billion. That means that revenue for the quarter was up 33.7% YOY. Awesome.
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I’m Hopelessly Addicted to Amazon Stock

I took a swing long position in Amazon stock today after the chart confirmed a candle over candle reversal. Folks I’m addicted to Amazon as a company as well as its stock.

If you watch the Saturday Show on YouTube then you know my wife has severe pancreatitis. She has been hospitalized since August 1, 2017. Amazon has made things better for my family. I needed to order special medical supplies for my wife and even electrolyte ice-pops that make it possible for her to absorb potassium through her mouth because she can’t hold down anything in her stomach. These items are such “specialty” items that it would be impossible to find these things locally.
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Amazon Stock Twiggs Money Flow Breaks Positive

The Twiggs Money Flow on Amazon stock has broken above the zero line and has gone positive for the first time since August 7, 2017.

Amazon just rolled out Amazon Fresh in my area of Fresno, California. I signed up for the 14-day trial for Amazon Fresh and immediately canceled it because of the poor delivery times. On Saturday, I ordered 4 peaches, and a bag of shredded mild cheddar cheese. Amazon Fresh said they could not deliver it until Tuesday, LOL. I cancelled and told them I’ll just go to the grocery store myself and pick up these items in like a hour. If Amazon Fresh is going to be successful, they have to get delivery times down to same-day and at most, one day later. If they can’t do that they might as well close down their Amazon Fresh website because only the elderly and disabled are going to be willing to wait 3 or more days for their groceries to be delivered.

I think Amazon is poorly executing on their Amazon Fresh division. Amazon Fresh wasted about an hour of my time when you include the time it took me to order and then to cancel my order as well as my Amazon Fresh trial. I won’t try Amazon Fresh again for a long time. Maybe I’ll never try it again. That’s the cold hard reality of retail: first impressions are everything. Amazon has blown it in their roll out of Amazon Fresh by promising too much and then not delivering. Still, if any company can turn this around it’s Amazon.

MKM Partners recently gave Amazon a target price of $3,330 which you can read about here.

I’ve been trading in and out of Amazon stock for about a month now and it’s been a great stock to swing trade.

Amazon Stock

Amazon stock looks strong.

That’s a good basing pattern and perhaps even an inverted Head and Shoulders pattern. The 50 day moving average (blue line) is setting up a possible breakout play. Here is a swing trading lesson on breakout chart patterns.

In addition to the Twiggs Money Flow going positive, the Effective Volume study shows large players volume is still in an uptrend.

Prices have been consolidating lately forming a momentum squeeze on the chart:

The TSI is holding its buy signal cross from August 30, 2017.

There is very little resistance above the current price. There is a support zone below the current price at $972.24, a stop order could be placed below this zone.

Amazon Stock Pulls Back To Juicy Level On Whole Foods Pricing

Amazon stock has pulled back to mouth-watering levels as the company announces that they will lower Whole Foods prices beginning Monday, August 28, 2017.

Today did this report on the Amazon pricing strategy on organic food:

Source: YouTube reported an earnings miss last month which was a big blow to bulls. The e-commerce giant reported a Q2 EPS that fell to 40 cents from $1.78 a year ago which totally missed the FactSet consensus of $1.41. Not only did Amazon totally miss expectations for their profit in Q2, but they cut in half the expectations of what they’re going to make over the next 12 months.

Amazon Stock

Amazon stock has pulled back to an excellent entry level.

It is too early to take an entry in Amazon right now. Price movement has been a little bit too volatile to find a good entry and exit point. It is probably a good idea to wait for a consolidation first.

Notice how well large players volume is holding up as the price of Amazon stock has dropped. This is a positive divergence and is bullish. The Twiggs Money Flow is starting to round up but we need more of an upward move before making that assessment.

A stop limit order strategy like this may be the way to play Amazon.

It’s hard to go wrong buying oversold quality stocks like Amazon. I did a lesson on stock trading strategies that work here and how to play oversold stocks like Amazon.

Amazon Stock Price At $3000 In 10 Years Says Wedbush

Michael Pachter of Wedbush thinks Amazon stock price will go up 200% within 10 years and hit $3,000 according to a report by CNBC. Amazon has been making all the right moves and we are about to see how Amazon prime day works out today too.

Pachter said that Amazon stock price at $2,000 – $3,000 will give the company a $1 trillion market cap. Pachter also says the company will do $1 trillion in revenue too.

AMZN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 118.93%, which is quite impressive. Measured over the past 5 years, AMZN shows a very strong growth in Earnings Per Share. The EPS has been growing by 53.13% on average per year.

Amazon Stock Price

AMZN is a decent long setup right now. We see reduced volatility while prices have been consolidating in the most recent period which has triggered a momentum squeeze. The Effective Volume shows large players have not been selling AMZN into the most recent pullback; however, the Twiggs Money Flow has been falling which suggests the stock is under distribution right now.

The True Strength Index is very close to giving a buy signal.

There is a resistance zone just above the current Amazon stock price starting at 998.85. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 982.32, a stop order could be placed below this zone.