Amazon uptrend opportunity based On 1.00 Lot Calculation:
- Amazon is the king of e-commerce. It continues to benefit from ongoing lockdowns and a fundamental shift in how consumers shop. It also runs one of the world’s most popular cloud computing services called AWS.
- Americans received a large amount of stimulus money from the Federal Government at the beginning and end of the 1st Quarter. The earlier program sent over $170 billion directly to its citizens, the latter over $400 billion. Consumers spent much of this money as expected, and with the prevalence of lockdowns in the 1st quarter much of it was spent at Amazon.
- Event: 1st Quarter Earnings: Amazon is tentatively scheduled to post its 1st Quarter earnings on April 30th. It is expected to earn $13.196 per share and see revenue of nearly $105 billion. It has beat its adjusted earnings estimate 6 of the last 8 quarters and beat its revenue estimate 8 of the last 8 quarters. We believe Amazon has a good chance of exceeding estimates again.
- Technical details: Amazon has underperformed the major indices Year-to-Date. It is down roughly 4% while the USA500 has risen 7% and the USA100 has climbed 4.4%.
AMAZON, April 5, 2021
Current Price: 3,200.00
|
Amazon |
Weekly |
|
Trend direction |
|
|
3,900.00 |
|
|
3,650.00 |
|
|
3,450.00 |
|
|
3,000.00 |
|
|
2,800.00 |
|
|
2,600.00 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
Amazon |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
70,000.00 |
45,000.00 |
25,000.00 |
-20,000.00 |
-40,000.00 |
-60,000.00 |
|
Profit or loss in €** |
59,304.95 |
38,124.61 |
21,180.34 |
-16,944.27 |
-33,888.54 |
-50,832.81 |
|
Profit or loss in £** |
50,359.71 |
32,374.10 |
17,985.61 |
-14,388.49 |
-28,776.98 |
-43,165.47 |
|
Profit or loss in C$** |
87,616.20 |
56,324.70 |
31,291.50 |
-25,033.20 |
-50,066.40 |
-75,099.60 |
* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 16:15 (GMT+1) 05/04/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client 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 Client Manager for more details