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Amazon.com Inc (NASDAQ:AMZN) reports second-quarter earnings Thursday. Wall Street expects $1.03 in EPS and $148.57 billion in revenues when the company reports after market hours.
The stock is up 42% over the past year and has risen 25% YTD.
Let’s look at what the charts indicate for Amazon stock, and how the stock currently maps against Wall Street estimates.
Amazon stock is currently exhibiting a strongly bullish trend, as the share price of $186.98 sits above its 5, 20, and 50-day exponential moving averages, indicating an upward momentum with slight buying pressure.
Chart created using Benzinga Pro
The 8-day simple moving average (SMA) of $183.56 provides a bullish signal, aligning with the overall positive trend. However, the 20-day SMA at $188.98 and the 50-day SMA at $187.16 suggest some bearish signals, highlighting potential short-term resistance.
In the long run, AMZN’s 200-day SMA at $168.37 offers a bullish indication, reinforcing the stock’s upward trajectory.
Chart created using Benzinga Pro
The Moving Average Convergence Divergence (MACD) indicator is -1.40, pointing towards a bearish sentiment in the short term.
Despite this, the Relative Strength Index (RSI) of 54.39 suggests Amazon stock is now out of the oversold zone, potentially creating opportunities for bullish investors.
The Bollinger Bands (25), ranging from $176.75 to $204.75, also support a bullish perspective, indicating room for price appreciation. Amazon’s stock price can be seen heading from the lower bearish band to the upper bullish band.
Overall, while some technical indicators hint at short-term bearish signals, Amazon’s stock maintains a bullish outlook in the long term, with a chance for continued growth.
Read Also: Amazon Shares Are Trading Higher: What You Need To Know
Amazon Ratings & Consensus Estimates: The consensus analyst rating on Amazon stock stands at a Buy with a price target of $218.88. Recent analyst ratings from JMP Securities, UBS, and Wedbush imply an 18.43% upside for Amazon, with an average price target of $224.67.
AMZN Price Action: Amazon stock closed the trading day, Wednesday, at $186.98, up 2.90%.
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Photo: Shutterstock
Posted In: AMZN
