Interest In Amazon Decreases Ahead Of Earnings Print: A Technical Analysis
Portfolio Pulse from Melanie Schaffer
Amazon.com, Inc (NASDAQ:AMZN) is trading slightly higher ahead of its Q2 earnings release on Thursday. Investors are keen to see how Amazon Web Services is performing, especially after Microsoft and Google reported slowed growth in their cloud businesses. Traders can trade the potential volatility using the ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY), a 1.5x leveraged fund that tracks the SPIKES Futures Short-Term Index.
July 31, 2023 | 7:37 pm
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NEUTRAL IMPACT
Amazon's stock is trading slightly higher ahead of its Q2 earnings. The performance of AWS will be a key factor to watch.
The upcoming earnings release and the performance of AWS could impact Amazon's stock price. However, it's uncertain whether the impact will be positive or negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Traders can use the SPKY ETF to trade the potential volatility in Amazon's stock.
The potential volatility in Amazon's stock could impact the SPKY ETF, which is used to trade such volatility. However, the direction of the impact is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEUTRAL IMPACT
The UVXY ETF, which tracks the movement of the S&P 500 VIX Short-Term Futures Index, is mentioned in relation to the SPKY ETF.
The UVXY ETF is mentioned in relation to the SPKY ETF, which could be impacted by potential volatility in Amazon's stock. However, the direct impact on UVXY is uncertain.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 40