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Amazon

Market Opportunities - 30/07/2020

30 July, 2020

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Amazon uptrend opportunity based On 1.00 Lot Calculation:

  • Amazon is the king of e-commerce. The pandemic helped boost Amazon’s business as brick and mortar retail stores were forced to shutter. However, it appears that Amazon’s e-commerce business is still stronger even as many economies re-open. There has been a behavioral shift in how many people shop.
  • Amazon earned $23.01 per share in 2019 on revenue of $280.5 billion. It earned $5.01 per share in Q1 of 2020 on revenue of $75.5 billion.
  • Q2 results are tentatively scheduled to be reported on July 30th, 2020 after the American market closes. The consensus estimate is that they will report earnings of $1.51 per share and that revenue will be $81.22 billion.
  • Goldman Sachs analyst Heath Terry recently raised Amazon’s price target to $3,800 per share based on the accelerating growth of online sales in North America.
  • Amazon’s cloud service, AWS, accounted for 12.5% of its total revenue in 2019 but 63% of its operating income.
  • Amazon faces continuous scrutiny by antitrust regulators on both sides of the Atlantic to to its dominating position in the e-commerce sector. It is facing allegations that it misuses data from its 3rd party sellers to help develop and promote their own competing products.

Amazon, July 30, 2020
Pivot point: 3,010.00

Amazon

Daily

Trend direction

UP

Resistance 3

3,293.06

Resistance 2

3,208.14

Resistance 1

3,123.22

Support 1

2,907.07

Support 2

2,829.87

Support 3

2,752.67

Example of calculation base on weekly trend direction for 1.00 Lot*

Amazon

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

28,306.00

19,814.00

11,322.00

-10,293.00

-18,013.00

-25,733.00

Profit or loss in €**

24,082.01

16,857.24

9,632.47

-8,757.02

-15,325.00

-21,892.97

Profit or loss in £**

21,799.00

15,259.15

8,719.29

-7,926.84

-13,872.16

-19,817.48

Profit or loss in C$**

37,918.72

26,542.83

15,166.95

-13,788.50

-24,130.21

-34,471.93

* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 09:00 (GMT+1) 07/30/2020
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Senior Account Manager for more detail

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