Amazon's chart offers clues ahead of Tuesday's first-quarter earnings release

Amazon's chart offers clues ahead of Tuesday's first-quarter earnings release

Amazon's chart offers clues ahead of Tuesday's first-quarter earnings release

Amazon.com Inc (NASDAQ:AMZN), will report first-quarter results on Tuesday. Wall Street expects earnings per share of 78 cents and revenue of $133.1 billion, the company reports after market hours.

Amazon shares are supported by the company's strong positioning in AI, cloud computing and e-commerce. The stock has been on an upward trajectory, up 71.10% over the past year and showing a positive trend of 18.22% YTD.

Key factors to watch as Amazon reports first-quarter earnings

As Amazon prepares to report first-quarter results, investors are keeping a close eye on a number of key factors.

  • The performance of Amazon Web Services (AWS) and its progress in AI development.

  • Market share gains in digital advertising

  • The impact of recent price increases on third-party sellers' results

These will be key indicators of Amazon's growth potential.

One of the most important concerns for investors is profitability. Amazon's efforts to improve margins and operational efficiency will be closely watched, especially as the company aims to become more efficient and profitable by 2024.

Amazon's strategic investments in robotic automation in warehouses are also worth mentioning. With more than 750,000 deployable robots, Amazon aims to reduce fulfillment costs and increase efficiency. This automation drive has already shown results, with fulfillment costs increasing less than total revenue, pointing to potential significant cost savings in the future.

Also read: Amazon's AWS mega-investment marks Indiana's largest capital infusion ever

Charts indicate a bullish rebound for Amazon stock

From a technical analysis perspective, Amazon stock is currently experiencing a bullish resurgence with mild buying pressure.

fb3cd32dca0b7abe55dfb30052a2f46cfb3cd32dca0b7abe55dfb30052a2f46c

Chart: Benzinga Pro

Amazon stock price is trading above major short-term moving averages, reflecting positive market momentum. The 8-day simple moving average (SMA) stands at $177.84, indicating a bullish trend. Furthermore, the 20-day SMA of $181.55 and the 50-day SMA of $178.03 reinforce the bullish trend.

See more earnings on AMZN

b37edbb93d7f97da8d3d7b28cf5ef977b37edbb93d7f97da8d3d7b28cf5ef977

Chart: Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator is 0.05, indicating a moderate bullish signal. The Relative Strength Index (RSI) is in the neutral zone at 54.37 and is far from oversold or overbought.

The Bollinger Bands for Amazon stock indicate a bullish trend. The stock's price line moved from the lower band to the upper band just ahead of its first-quarter earnings results, reflecting the positive sentiment driving the stock.

Wall Street analysts see a 17% increase

Amazon shares have demonstrated strong performance and strategic positioning in key areas. The technical analysis shows a revival of bullish sentiment ahead of the company's first-quarter earnings release.

Moving averages and oscillators both point to a positive near-term stock trajectory for Amazon stock. Furthermore, fundamental factors give strength to the longer-term thesis.

Per Wall Street Analyst ConsensusAccording to recent analyst reports, Amazon stock is a buy with an implied upside of 17%.

The overall outlook for Amazon remains positive, mainly due to its continued focus on profitability and efficiency improvements.

Read next: What's in the cards for Amazon in the first quarter? Analyst sees double-digit revenue and profit growth

Photo: Shutterstock

“SECRET WEAPON OF ACTIVE INVESTORS” Boost Your Stock Game With The #1 Trading Tool For “News & Everything Else”: Benzinga Pro – Click here to start your 14-day trial now!

Want the latest stock analysis from Benzinga?

This article Amazon's chart offers clues ahead of Tuesday's first-quarter earnings release originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Related Posts

  • Finance
  • May 15, 2024
  • 12 views
  • 3 minutes Read
Here are the top ten picks for the Mormon church's $55 billion stock portfolio

Getty Images The investment arm of the Mormon church disclosed some of its assets in a 13F filing on Wednesday. The church has built a portfolio of individual stocks worth…

  • Finance
  • May 15, 2024
  • 14 views
  • 4 minutes Read
Florida lawmakers are proposing to change the tax code to provide premium relief for homeowners

Florida lawmakers are proposing to change the tax code to provide premium relief for homeowners Florida Congressman Byron Donalds is working with his colleague Senator Rick Scott on a bill…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

European banks in Russia face 'an enormous amount of risk', says Yellen

  • May 25, 2024
European banks in Russia face 'an enormous amount of risk', says Yellen

Can blockchain improve weather forecasts? WeatherXM thinks so

  • May 25, 2024
Can blockchain improve weather forecasts?  WeatherXM thinks so

Russia's last missile cruiser in the Black Sea destroyed by Ukraine

  • May 25, 2024
Russia's last missile cruiser in the Black Sea destroyed by Ukraine

Supreme Court Justice Sonia “Wise Latina” Sotomayor Reveals She's “Crying” Over the Court's Conservative Rulings (VIDEO) | The Gateway expert

  • May 25, 2024
Supreme Court Justice Sonia “Wise Latina” Sotomayor Reveals She's “Crying” Over the Court's Conservative Rulings (VIDEO) |  The Gateway expert

Friday's pre-holiday trip breaks the record for most air travelers screened at U.S. airports

  • May 25, 2024
Friday's pre-holiday trip breaks the record for most air travelers screened at U.S. airports

Man United youth stun Man City in FA Cup: goals from Alejandro Garnacho and Kobbie Mainoo lead Red Devils

  • May 25, 2024
Man United youth stun Man City in FA Cup: goals from Alejandro Garnacho and Kobbie Mainoo lead Red Devils

Walmart is ending its credit card partnership with Capital One, but customers can still use their cards

  • May 25, 2024
Walmart is ending its credit card partnership with Capital One, but customers can still use their cards

Jack Smith continues Trump's false claims of FBI assassination plot

  • May 25, 2024
Jack Smith continues Trump's false claims of FBI assassination plot

Key West, Florida, Santorini, Greece and more locations around the world known for their sunsets

  • May 25, 2024
Key West, Florida, Santorini, Greece and more locations around the world known for their sunsets

Entrepreneurship, reality TV and creating success

  • May 25, 2024
Entrepreneurship, reality TV and creating success

Ohio's Republican governor is helping Biden gain access to ballots

  • May 25, 2024
Ohio's Republican governor is helping Biden gain access to ballots