Amazon (AMZN) Offering Possible 23.46% Return Over the Next 14 Calendar Days

Amazon's most recent trend suggests a bullish bias. One trading opportunity on Amazon is a Bull Put Spread using a strike $3195.00 short put and a strike $3185.00 long put offers a potential 23.46% return on risk over the next 14 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $3195.00 by expiration. The full premium credit of $1.90 would be kept by the premium seller. The risk of $8.10 would be incurred if the stock dropped below the $3185.00 long put strike price.

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

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

The RSI indicator is at 60.82 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

Siemens Smart Infrastructure Chooses AWS as Its Preferred Cloud Provider for SAP Environments
Thu, 03 Dec 2020 08:01:00 +0000
Today, Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), announced that Siemens Smart Infrastructure, a business of the Siemens AG group focusing on energy distribution and intelligent buildings, is moving its SAP infrastructure to AWS. The business will migrate over 20 Enterprise Resource Planning (ERP) and Supply Chain Management (SCM) systems, based on SAP HANA, to AWS before the end of 2021. These systems support business-critical processes in areas such as manufacturing, operations, and sales across different business units including Building Products, Electrical Products, Digital Grid, and Distribution Systems. Moving these workloads to AWS will enable Siemens Smart Infrastructure to significantly shorten hardware refresh cycles, increase agility to test and deploy new systems, and provide the foundation for the company’s future transformation using SAP S/4HANA technology. This is the first migration of production-scale SAP systems to the cloud across the Siemens AG group, with Siemens Smart Infrastructure forecasting significant cost savings over the course of the next three years.

Intel Has Been Missing an AI Business to Compete With Nvidia. It’s Finally Here.
Thu, 03 Dec 2020 01:08:00 +0000
The chip maker has partnered with Amazon to offer Intel hardware to power the deep learning training used in applications like virtual assistants.

Buying Tech Stocks? Pick Carefully. This Market Has Changed.
Wed, 02 Dec 2020 22:24:00 +0000
The rising tide that lifted all boats in the industry earlier this year isn’t providing the same boost anymore.

Okta Projects Revenue Topping Estimates on Remote-Work Demand
Wed, 02 Dec 2020 22:10:42 +0000
(Bloomberg) — Okta Inc. gave a revenue forecast for the current quarter that topped analysts’ estimates, signaling steady demand for its identity software while corporate employees log on to work from home during the pandemic.Sales will be as much as $222 million in the period ending in January, the San Francisco-based company said Wednesday in a statement. Analysts, on average, estimated $216.7 million, according the data compiled by Bloomberg. In the current fiscal year, Okta raised its projected revenue to as much as $823 million from a previous high of $803 million.Chief Executive Officer Todd McKinnon has tried to maintain Okta’s swift revenue growth during the coronavirus pandemic, which has spurred greater use of its products. Okta’s security software helps workers who need to access corporate systems, students who must use remote-learning apps and consumers who are required to authenticate their identity online, but the company has strong competition from Microsoft Corp. Okta announced Wednesday that its Identity Cloud will become available on Amazon Web Services’ Marketplace, fulfilling McKinnon’s goal to partner more with major public cloud providers.“In a far from normal environment, demand for our products and services continue to grow well,” McKinnon said in an interview. But the pandemic has somewhat constrained the company’s performance and uncertainty remains.“The big story is how fast does it return to normal?” he added. “And we’re being cautious. We don’t want to get ahead of ourselves in terms of overthinking a recovery.”Okta shares gained about 6% in extended trading after closing at $230.21 in New York. The stock has doubled this year.The company expects a loss, excluding some items, of 1 to 2 cents a share in the fourth fiscal quarter. Analysts projected a loss of 2 cents.Sales jumped 42% to $217.4 million in the fiscal third quarter, which ended Oct. 31. Analysts, on average, estimated $203.2 million. The company recorded an adjusted profit of 4 cents a share, beating an expected loss of 1 cent a share.Separately, the software maker announced the retirement of Chief Financial Officer Bill Losch in early March after seven years in his role. He will stay on as an adviser through the end of fiscal 2022 and be replaced by Okta board member Michael Kourey, 61, who previously served as Vlocity Inc.’s CFO.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.

Snowflake Drops on Disappointing Product Sales Forecast
Wed, 02 Dec 2020 21:44:53 +0000
(Bloomberg) — Snowflake Inc., a software maker that debuted with the year’s biggest U.S. initial public offering, gave a lackluster product sales forecast for the current quarter, signaling fierce competition in cloud computing. Shares declined about 5% in extended trading.Product revenue, which makes up more than 90% of sales, will be $162 million to $167 million in the period ending in January, the San Mateo, California-based company said Wednesday in a statement. Analysts, on average, estimated $166 million, according to data compiled by Bloomberg.Snowflake’s data-warehouse software is like a vacuum sucking up information strewn across different systems, so that businesses can analyze it all together. The company competes against the cloud-computing divisions of Amazon.com Inc., Microsoft Corp. and Alphabet Inc., as well as open-source vendor Cloudera Inc. and database stalwart Oracle Corp. Snowflake has chased major deals with banks, including an agreement with Capital One Financial Corp. valued around $100 million and a major deal with Goldman Sachs Group Inc., Bloomberg has reported.Snowflake listed on the New York Stock Exchange in September in a $3.36 billion IPO, the largest ever for a software maker. The stock has more than doubled since then on optimism it would produce extraordinary growth, closing at $292.69 Wednesday in New York, and pushing the company’s market value to more than $82 billion.In the fiscal third quarter, total revenue more than doubled to $159.6 million. Analysts projected $147.1 million. The company reported its net loss widened to $168.9 million, or $1.01 a share, from $88.1 million, or $1.92 a share, in the period a year earlier.“We are pleased with our performance this first quarter as a public company,” Chief Executive Officer Frank Slootman said in the statement. “Our vision of the Snowflake Data Cloud mobilizing the world’s data is clearly resonating across our customer base.”The software maker projected product revenue of as much as $543 million this fiscal year, beating analysts’ estimates of $530 million.The eight-year-old business has substantial supporters. Warren Buffett’s Berkshire Hathaway Inc. and Salesforce Ventures, an arm of Salesforce.com Inc., each committed to buy $250 million of the company’s Class A common stock in a private placement. Berkshire reported in a filing last month that it had purchased 6.13 million shares of Snowflake valued at $1.54 billion, representing 15% of shares outstanding.(Updates with comments from CEO in the sixth paragraph.)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.

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