Saturday, July 23, 2016

Amazon Pulls Back Sharply Ahead Of Earnings

After new 52 week and all time highs last week, Amazon.com, Inc. (NASDAQ:AMZN) is pulling back sharply. The stock is trading at $275.72, -8.27 (-2.91%). This drop is occurring as investors are taking profits ahead of earnings on Tuesday, January 29th, 2013, after the markets close. Wall Street is expecting earnings of $0.29 per share.

The key to remember is that Amazon, even if they beat estimates is still trading at a 100 plus price-to-earnings ratio. Institutions are unloading, recognizing this. On a technical basis, the chart is extremely extended and there may be a reversal candle on the daily chart as of today. That is a very bearish signal. All eyes will be on Amazon tomorrow when they report.

Gareth Soloway
InTheMoneyStocks



[[T_F]]Data Leak Prevention – Data Security Solutions – Information Theft Protection, Detection and Prevention Software Productstracefusion_signature=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[[T_F]]



| More

Random Posts

Leave a Reply

Back to Top

Social Media Profiles

ADVERTISEMENT

BUSINESS NETWORKS

The New York Times logo CNN logo ABC logo CNBC logo