Tuesday, September 2, 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