Current trend

Shares of Amazon.com Inc., a leader in e-commerce, are corrected at 178.00.

The annual Big Spring Sale kicked off yesterday and will last until March 25: statistics show that this marketing event mitigates the effects of a seasonal drop in revenue in the first quarter. Leading analysts suggest that the company will improve its performance this year, and experts at Bank of America Corp. maintained its rating at the Buy level, increasing the target price to 204.0 dollars per share.

However, it became known that the US Federal Communications Commission (FCC) has launched an investigation into Amazon.com Inc. and other retailers regarding the sale of prohibited products, such as radio frequency jammers that can jam Wi-Fi signals or disable security cameras.

The quarterly financial report will be published on April 25: excluding the sale, revenue is expected to be 142.63B dollars, down from 170.00B dollars previously, and earnings on paper (EPS) could be 0.827 dollars, which is inferior to last quarter’s’s figure of 1.000 dollars.

Support and resistance

An upward trend is developing on the daily chart of the asset, and the price is above the channel support line with dynamic boundaries of 190.00–170.00.

Technical indicators are holding a buy signal: the EMA fluctuation range is expanding, and the AO histogram is in the buy zone.

Resistance levels: 180.00, 190.00.

Support levels: 174.00, 166.00.

Trading tips

Long positions may be opened after the price rises and consolidates above 180.00, with the target at 190.00 and stop loss 175.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 174.00, with the target at 166.00. Stop loss – 178.00.