Amazon – Is the recovery movement starting now?

Bottom-Fishing Trading-Strategie

Symbol: AMZN ISIN: US0231351067

Rückblick: The leading e-commerce online retailer is also the global number one in the cloud business with its AWS platform. For a long time, the Amazon share was a guarantee for rising prices. However, this has not been the case for around 2 years. After a volatile sideways movement in 2020 and 2021, there was great hope that prices would rise. In 2022, however, the technical chart recovery did not follow, but the share took a southerly course in the course of the sell-off of technology stocks. But this year there is a ray of hope.

Opinion: In the US, Amazon is topping up its Prime program for US users with a prescription subscription service. The online retailer is thus further expanding its healthcare business. After the stock was able to recapture the EMA-20, it also jumped over the downtrend line. In the area around USD 100, however, the bulls ran out of air. After the breather of the last few days, the breakout could succeed at the next attempt. This would clear the way to higher listings. It should be noted that Amazon will publish its Q4 figures on February 2nd.

Chart from 26.01.2023 – Base daily, 6 months – Rate: $99.35

Setup: On a breakout, one could open a long trade. The position could be hedged after entering below Wednesday’s candle, below the EMA-20.

My opinion on Amazon is neutral

Author: Wolfgang Zussner currently holds positions in AMZN

Please note the disclaimer, conflicts of interest and risk disclosures that you can find under can retrieve.

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Analysis prepared on behalf of

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