Black Friday Deal – Amazon Stock Overview
Amazon.com (NASDAQ:AMZN) is among the best-known businesses in the world. Their website platform has presence in billions of lives every day. Amazon has been producing amazing returns for investors over the years, beating the market indices by a wide range over the years.
Despite Amazon (AMZN) massive size, the company continues to grow at an impressive rate. In its most recent quarter report, Amazon revenue was up 24% year over year and stand at $70 billion, while operating income was down 14% and net income down 26%. However the decline is income is for good purpose as Amazon continues to heavily invest in future business development. Some of that investment went to their upcoming service upgrade in Prime service shipping from two-day delivery to one-day! The service upgrade benefits the company that now can better serving its clients and at the same time continues to put pressure their competition, which are far behind in providing quality services such as Amazon.
Looking at Amazon chart, we can see that price as move back above the 50 day moving average (green line – see chart below) and about to cross above the 200 day moving average, which is up trending now (red line – see chart). In addition, we can see that Amazon chart created higher lows levels since September, which provides good support level below current price (at the 1,700 level). On the upside, we believe that the upcoming Black Friday Sale will push Amazon up to challenge recent highs at the $2,000 price level.