Trading Strategies For Amazon Stock Heading Into Q2 Earnings
Portfolio Pulse from Melanie Schaffer
Amazon.com, Inc (NASDAQ:AMZN) is set to release its Q2 financial results after the market close on Thursday. Analysts expect Amazon to report EPS of 34 cents on revenues of $131.54 billion. The stock looks bullish heading into the event, holding support above the 50-day simple moving average (SMA). However, if Amazon suffers a bearish reaction to its earnings print and loses support at the 50-day SMA, the stock could continue trending downward. Amazon has resistance above at $131 and at $136.83 and support below at $125.93 and at $117.16.
August 04, 2023 | 2:18 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Amazon's Q2 earnings release could impact its stock price. If the earnings are positive, the stock could continue its bullish trend. However, a bearish reaction could lead to a downward trend.
The release of Amazon's Q2 earnings is a significant event that could greatly impact its stock price. If the earnings are positive, it could reinforce the current bullish trend of the stock. However, if the earnings are negative or below expectations, it could trigger a bearish reaction, leading to a downward trend.
CONFIDENCE 80
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
If Amazon's stock falls, especially in unison with Apple, volatility in the stock market is likely to increase. Traders can use MIAX's SPIKES Volatility products to play the potential volatility.
The performance of Amazon's stock, especially in conjunction with other major stocks like Apple, can significantly influence market volatility. MIAX's SPIKES Volatility products, which track expected volatility in the SPY over the next 30 days, can be used by traders to navigate this potential volatility.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 50