Call toll-free 800.328.1267
[showmodule id=”58959″]
Amazon.com rallied into its last earnings report, and crashed on a very weak outlook. Now traders may need to mind the price gap that resulted.
So far, AMZN hasn’t even tried to fill that chasm, which creates the risk that it will become a longer-lasting scar on the price chart.
Second, relative strength versus Consumer Discretionaries was slowing before the poor results and has only worsened since.
The selloff also represents a false breakout. The bulls tried to drive prices into new territory and were punished. This can be very negative for sentiment, and provide plenty of ready sellers if the stock tries to reclaim the highs.
The post-gap highs could also be problematic because …
For more, please click here to view the related idea and chart analysis on TradingView.
Money is flowing back into stocks as investors hope for a better inflation report this week. The S&P 500 rose 1.9 percent between Friday, May 3, and Friday, May 10. It was the third straight positive week. More than four-fifths of the index's members advanced,...
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Most of the big earnings reports have now occurred, and so far they've done little to boost the market. Companies like Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Caterpillar (CAT) and Intel (INTC) reported profits above Wall Street estimates. However...