AMAZON (#AMAZON) weekly special report based on 1.00 Lot Calculation:
AMAZON: THE COMPANY
- Amazon is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. It has been referred to as "one of the most influential economic and cultural forces in the world.
AMAZON: E-COMMERCE
- AMAZON IS THE LARGEST E-COMMERCE COMPANY IN THE USA: Amazon takes up 3.7% of market share, followed by Walmart with 6.4%, apple 3.6% and eBay 3%.
- AMAZON E-COMMERCE SALES TO RISE IN 2024 TO A RECORD HIGH: The company is expected to record sales figure of 247.6 billion dollars in 2024 (the highest ever), up from 2023’s 231.9 billion dollars.
ARTIFICIAL INTELLIGENCE:
- AMAZON AI: According to techtarget.com, Amazon AI is a set of artificial intelligence (AI) services that offer machine learning (ML) and deep learning technologies to Amazon Web Services (AWS) customers. These services are intended to help software developers create AI-based software.
- AMAZON WEB SERVICE (AWS): One of Amazon’s biggest focuses is in cloud computing, where the company’s Amazon Web Services is a market leader with 31% of market share, ahead of Microsoft Azure (25%), Google Cloud (11%) and Alibaba Cloud (4%) (Source: Statista)
- The Cloud industry is expected to grow at a compounded annual growth rate at 21.2% until 2030, to $1.5 trillion from current $602 billion, with Amazon Web Services set to maintain dominance. The online tech and retail giant has also built in-house chips to power the cloud and has partnered with OpenAI rival Anthropic on infrastructure that enables large-scale AI modeling (Source: grandviewresearch.com).
- AMAZON BEDROCK: Amazon Bedrock is a machine learning platform used to build generative AI applications on the Amazon Web Services cloud computing platform. Bedrock uses foundation models to simplify the creation of these apps and make the process more efficient. Amazon and NVIDIA announced strategic collaboration to offer new supercomputing infrastructure, software and services for generative AI.
AMAZON: ANALYSIS AND EVENTS
- EVENT (THURSDAY, OCTOBER 31, AFTERMARKET): Q3 EARNINGS REPORT. According to Bloomberg, the company is expected to post 157.29 billion dollars in Q3 of 2024, up 6.29% from Q2’s 147.98 billion dollars. The company is expected to report a net income of 17.40 billion dollars, up 32% from Q2 13.13 billion dollars.
- AMAZON HAS BEAT EARNINGS AND REVENUE ESTIMATES 8 TIMES OUT 8 FOR THE PAST 8 QUARTERS. According to Blomberg, Amazon has posted better than expected revenue results 8 times over the past 8 quarters. The company has also managed to beat earnings estimates 8 times over the past 8 quarters.
AMAZON: PRICE ACTION
- ANALYST OPINION: CITIGROUP targets $245. BARCLAYS targets $235. GOLDMAN SACHS targets $230. DEUTSCHE BANK targets $225.
- STOCK PRICE ACTION: Amazon stock made its all-time high of $201.06 in July, 2024. The stock currently trades around $188 and if a full recovery follows, the stock could increase around 7%. However, it could go lower.
#AMAZON, October 29, 2024
Current Price: 188
|
AMAZON |
Weekly |
|
Trend direction |
|
|
265 |
|
|
235 |
|
|
207 |
|
|
170 |
|
|
165 |
|
|
160 |
Example of calculation based on weekly trend direction for 1 Lot1
|
AMAZON |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
7,700 |
4,700 |
1,900 |
-1,800 |
-2,300 |
-2,800 |
|
Profit or loss in €2 |
7,130 |
4,352 |
1,759 |
-1,667 |
-2,130 |
-2,593 |
|
Profit or loss in £2 |
5,931 |
3,620 |
1,464 |
-1,387 |
-1,772 |
-2,157 |
|
Profit or loss in C$2 |
10,688 |
6,524 |
2,637 |
-2,498 |
-3,192 |
-3,886 |
- 1.00 lot is equivalent of 100 units
- Calculations for exchange rate used as of 11:50 (GMT) 29/10/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.