Post-earnings rebound, fresh buy signal
Amazon stock jumps 17% after earnings and triggers a fresh buy signal
Post-earnings rebound, fresh buy signal
Our view last week
Amazon shares dropped 6.1% this week, with 96% of trading volume concentrated on the sell side: a sharp reversal from the rebound of the past few weeks. The price is boxed into a tight band, between support in the 231 area and resistance in the 232 area, while earnings on July 30 draw closer. Amazon's technical analysis points to a decline that, after a 14% rebound off late June's double bottom, is baring its teeth again.
This week's summary
Amazon stock gains 17% in a week and flips the picture from last week's close: after the post-earnings pullback, the stock bounces firmly off the daily EMA20, and our model triggers a fresh buy signal in its first week. The price, though, is back near its all-time highs with little room to run: Amazon's technical analysis flags high risk for an entry right now.
IQS Phase
62
ordinary
Signal Strength
59
medium
Sizing
STANDARD
Ranking
#12 / 16
New us stocks
Trade P&L %
+0.00%
from signal to date, no stop loss
Rank position
ranks 12th among the 16 fresh Longs for US stocks in our ranking, with a signal strength of 59 out of 100.
Sector context
SectorConsumer Discretionary
Benchmark ETFXLY
Sector regimein positive regime
Performanceweekly +6.11% · monthly -1.69%
AMZN belongs to the consumer discretionary sector (reference ETF XLY). The sector is classified in positive regime according to our weekly reading.
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