Wednesday, April 23, 2014

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