Amazon Trades Muted Ahead Of Fed Minutes, Holding Channel Pattern: The Bull, Bear Case For The E-Commerce Giant
Portfolio Pulse from Melanie Schaffer
Amazon.com, Inc (NASDAQ:AMZN) is trading flat ahead of the Federal Reserve's July meeting minutes release. The stock has been in a downtrend since reaching a 52-week high of $143.63 on Aug. 4. The general market trend and upcoming Fed minutes could increase volatility and potentially drag Amazon's stock down due to its heavy weighting in the S&P 500. Traders can use MIAX’s SPIKES Volatility products (XMIO: SPIKE) to play the potential volatility.
August 16, 2023 | 4:03 pm
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NEUTRAL IMPACT
Traders can use MIAX’s SPIKES Volatility products to play the potential volatility in the stock market.
The upcoming Federal Reserve's minutes could increase volatility in the stock market, which could benefit traders using MIAX’s SPIKES Volatility products.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Amazon's stock is in a downtrend and could be further impacted by the upcoming Federal Reserve's minutes due to its heavy weighting in the S&P 500.
The upcoming Federal Reserve's minutes could increase volatility in the stock market, which could negatively impact Amazon's stock due to its heavy weighting in the S&P 500. Additionally, the stock has been in a downtrend, which could be exacerbated by negative market reactions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100