{"id":12525,"date":"2021-07-27T07:55:00","date_gmt":"2021-07-27T06:55:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=12525"},"modified":"2021-07-27T18:37:26","modified_gmt":"2021-07-27T17:37:26","slug":"amazon-technical-analysis-starting-to-breakout","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/amazon-technical-analysis-starting-to-breakout\/","title":{"rendered":"AMAZON Technical Analysis – Starting to breakout"},"content":{"rendered":"\t\t
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Amazon<\/a>\u2019s share price is becoming more volatile ahead of Thursday\u2019s key second-quarter earnings and investor call. Wall Street<\/a> will now be seeking confirmation that the tech giant intends to offer crypto payments.<\/p>

A recent jobs advertisement looking for a \u201ccrypto and blockchain\u201d expert has been confirmed by the company, which certainly suggests that the world\u2019s fourth largest company, with a market cap of $1.6 trillion, could be moving into crypto.<\/p>

The price of Bitcoin has already posted double-digit gains on the Amazon news, not to mention huge moves in other cryptos based on the fact that this could be one of the largest bullish catalysts for cryptocurrencies ever.<\/p>

So far, the speculation is overshadowing the coming Q2 earnings, with Amazon\u2019s Q2 revenues of $88 billion, marking a strong increase from the same time last year of around 29 percent. However, a so-called \u201cinsider\u201d has debunked reports about Amazon moving into Bitcoin, although the company may touch more on this during the earnings call.<\/p>

The company’s Q2 earnings per share is widely predicted to come in $10.30 on average, although some Wall Street analysts are expecting as high $12.00 per share. In Q1 Amazon\u2019s EPS skyrocketed to $15.79 per share.<\/p>

Amazon\u2019s share price is starting to break out already and shows significant scope for further upside according to medium-term technical analysis. A move towards $4,000 seems imminently achievable, while $4,800 is within the realm of possibility also.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>

AMAZON Short-Term Technical Analysis<\/strong><\/p>

The four-hour time frame looks bullish with Amazon\u2019s stock price creating higher highs and lower lows, and also the stock was aggressively bought during last weeks price dip over COVID-19 concerns.<\/p>

Looking at technical indicators the four-hour RSI indicator is slightly above 50 and remains bullish, and also suggests that the stock is not overbought in the short-term horizon.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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AMAZON Medium-Term Technical Analysis<\/strong><\/p>

Looking at the daily time frame chart Amazon\u2019s stock price has broken above sideways price channel and looks set to test towards the $4,000 level according to the size of the channel.<\/p>

According to trendline analysis Amazon\u2019s stock price could be preparing to rally towards the $4,800 to $5,000 level over the long-term.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Amazon\u2019s share price is becoming more volatile ahead of Thursday\u2019s key second-quarter earnings and investor call. Wall Street will now be seeking confirmation that the tech giant intends to offer crypto payments. A recent jobs advertisement looking for a \u201ccrypto and blockchain\u201d expert has been confirmed by the company, which certainly suggests that the world\u2019s […]<\/p>\n","protected":false},"author":4,"featured_media":12535,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[151,162],"yoast_head":"\nAMAZON Technical Analysis - Starting to breakout - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/amazon-technical-analysis-starting-to-breakout\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AMAZON Technical Analysis - Starting to breakout\" \/>\n<meta property=\"og:description\" content=\"Amazon\u2019s share price is becoming more volatile ahead of Thursday\u2019s key second-quarter earnings and investor call. 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