🎁$AMZN Show a Upward Gap, Can Prime Days Start a Prime Rally?

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Trend Radar is an new Tiger Community Official Account going to follow up and publish special movements on special stocks or indexes daily.

We expecting this column of observation to help you be more in-timely and precisely to understand the market and the stock.

Disclaimer: Historical performance of stocks or indices does not represent future trends. The content in this article is only for information exchanges. Investment is risky, opinions are not investment advice directly.

1. $Amazon.com(AMZN)$ see upward gap after reporting record prime days sale.

How to Play the Upward Gap:

• Indicates an increase in market sentiment and buying power: An upward gap may indicate an increase in market participants' willingness to buy the asset, showing positive market sentiment. An upward gap could signal a continuation of the trend.

• Breakout of a support or resistance level: An upward gap can sometimes cause the price to break through a previously formed support or resistance level, which can generate a stronger buying signal.

2. Special Focus for $Amazon.com(AMZN)$

• Can Prime Days Start a Prime Rally? Amazon(dot)com Inc. is optimistic about Prime Days. The company heavily advertises the event on every platform, and people expect exciting deals. Experts believe the total sales during Prime Days might exceed $15 Billion this year.

• AI mega trend continuing:The market’s increased concentration on generative AI pushed the mega-cap growth stocks to outperform in the quarter. Under a high-beta-driven period of mega-cap dominance, Top 5 Stocks $Apple(AAPL)$ , $Microsoft(MSFT)$ $Alphabet(GOOGL)$ , $Amazon.com(AMZN)$ and $NVIDIA Corp(NVDA)$ see 46.65%, 42.88%,,41.15%, 59.88%, and 214.61%.

• Valuations: The trailing twelve-month (ttm) price-to-earnings (P/E) ratio of $Amazon.com(AMZN)$ is 310.21, indicative that the stock is highly overvalued. Also, the (ttm) earnings per share (EPS) is $0.43. Analysts placed a 2.95 rating for moderate buy and estimated a price target at $144.93 with an upside of 8.7%.

• Earnings Forecast: The subsequent earnings are scheduled on July 27, 2023, with expected revenue of $131.218 Billion and earnings of $0.354 per share. Last earnings we see revenue of $127.358 Billion,and earnings of $0.31 per share.

3. Technical Observations For Consideration

• @Steve Anderrson’s Candle Exploration on the coin republic: A steep ascending trendline and upward-moving EMA hint that the price might enter the supply zone soon. But the RSI of 65.32 getting close to the overbought zone might hinder the expected rally. A strong northbound momentum would be possible if the price crosses and sustains over the $146.81 mark.

• Prime Days and the revenue influx, which is expected along with it, might push the price into the supply zone but can not guarantee sustenance. If the price drops, it might first battle the trendline itself while the immediate support at $110.16 would be the last line of defense before the price can enter the demand zone. 

Amazon.com Inc. (AMZN Stock): Can Prime Days Start a Prime Rally?

@Ek Network, enterprenur and trader on twitter, shared, once $Amazon.com(AMZN)$ $134 BREAKS AND HOLDS IT WILL FLY.

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@Ale lll from Twitter, $Amazon.com(AMZN)$ see good closing, above the weekly MA200, let’s see if we can hold it on Friday!

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