Amazon (AMZN) Offering Possible 10.5% Return Over the Next 21 Calendar Days

Amazon's most recent trend suggests a bearish bias. One trading opportunity on Amazon is a Bear Call Spread using a strike $3005.00 short call and a strike $3015.00 long call offers a potential 10.5% return on risk over the next 21 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $3005.00 by expiration. The full premium credit of $0.95 would be kept by the premium seller. The risk of $9.05 would be incurred if the stock rose above the $3015.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Amazon is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Amazon is bearish.

The RSI indicator is at 28.28 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


LATEST NEWS for Amazon

Dow Jones Futures: Stock Market Sells Off Bearishly; Tesla Extends Battery Day Dive
Thu, 24 Sep 2020 02:28:10 +0000
The stock market resumed heavy selling as the Nasdaq and big cap techs hit key resistance and Tesla plunged after Battery Day.

China Has a New Richest Person, With Jack Ma Dethroned
Thu, 24 Sep 2020 01:31:19 +0000
(Bloomberg) — A bottled-water and vaccine tycoon has become China’s wealthiest person in a day also marked by massive losses among the world’s tech elite.Zhong Shanshan’s net worth reached $58.7 billion on Wednesday, $2 billion more than Jack Ma’s, according to the Bloomberg Billionaires Index. Zhong is now Asia’s second-richest person, behind India’s Mukesh Ambani, and is the 17th wealthiest in the world, ahead of Charles Koch and Phil Knight.Nicknamed “Lone Wolf” for his eschewing of politics and clubby business groups, Zhong’s fortune has jumped $51.9 billion in 2020, more than anyone else in the world except Amazon.com Inc.’s Jeff Bezos and Tesla Inc.’s Elon Musk. Both suffered heavy declines on Wednesday as tech stocks stumbled and Tesla plunged after its “Battery Day” event fell short of expectations. Musk’s fortune dropped by almost $10 billion.The initial public offering of bottled-water company Nongfu Spring Co. — which turned out to be Hong Kong’s most popular among retail investors — propelled Zhong to China’s top three richest earlier this month. That came after the April listing of vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. pushed his net worth to $20 billion by early August.Zhong now leads a wealth ranking in China that is typically dominated by people who made their fortunes from tech companies.While Zhong has surpassed Ma as China’s wealthiest, the tech tycoon might soon regain the top spot, which he’s held for most of the past six years after Alibaba went public in the U.S. Ant Group’s IPO next month is poised to boost his fortune, with his stake estimated at $28 billion if the company achieves the $250 billion valuation people familiar with the matter have said it’s targeting.Wednesday was brutal for U.S. tech stocks, which tumbled the most since earlier this month. The plunge in Musk’s wealth was the biggest among the people on the Bloomberg ranking of the world’s 500 richest, followed by Bezos, whose net worth dropped by $7.1 billion. Musk is now worth $93.2 billion and Bezos $178 billion. Zhong added almost $4 billion Wednesday, more than anyone else in the index. (Updates table, adds last paragraph about Wednesday rout)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

September Sell-Off: S&P 500 Craters 78 Points, Approaching Correction Levels as Apple, Oxy, Lead Tech Stocks, Energy Stocks Down
Wed, 23 Sep 2020 22:34:56 +0000
Almost 480 of the S&P;'s component stocks lost value today, and every sector finished the day lower as the index closed on the cusp of a correction.

Amazon Prime Day Begins Oct. 13: Report
Wed, 23 Sep 2020 21:16:00 +0000
Prime Day 2020 for Amazon (NASDAQ: AMZN) will likely kick off on Oct. 13, according to a report on Tuesday by CNET, which cited four people with knowledge of Amazon's plans. Amazon has reportedly instituted a vacation blackout from Oct. 13 to 20, a move the company has made in previous years to correspond with its annual member shopping event. Amazon said sales for the Prime Day 2019 event (which was, in fact, 48 hours long) surpassed those on Black Friday and Cyber Monday combined, making it the largest shopping event in Amazon history.

US STOCKS-Wall Street closes lower on fears of a slowing economy
Wed, 23 Sep 2020 20:36:21 +0000
Wall Street's main indexes fell sharply on Wednesday after data showing a cooling of U.S. business activity and the stalemate in Congress over more fiscal stimulus heightened concerns about the economy while the coronavirus pandemic remains unchecked. The Nasdaq and S&P 500 fell more than 2%, and all 11 of the major S&P sectors closed lower. The economy is now leveling off at about 80% of activity before the pandemic and won't get back to normal until a vaccine is in place, said Jason Pride, chief investment officer of private wealth at Glenmede in Philadelphia.

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