AMZN stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $477.61 Billion and total liabilities of $309.00 Billion. The debt-to-assets ratio is at 64.70%.
The AMZN latest quarterly earnings report for the period ending June 2023 displayed a revenue of $134.38 Billion, with a net income of $6.75 Billion, and a gain in profit margin from the last quarter of 5.02%. This quarter, AMZN stock price reported revenue exceeded analysts’ estimates by $2.889 Billion (2.20%).
Moreover, the AMZN stock reported an EPS of $0.65 for the period ending June 2023, beating the analysts’ estimate of $0.354 by 83.66%. The next quarter’s revenue is estimated to be $141.467 Billion and the estimated EPS is $0.574. The report will be released on October 26th, 2023.
AMZN does not offer any dividends to its shareholders and it has never done so in the past. It seems unlikely that AMZN will pay any dividends in the future either. This means that the shareholders do not get any regular income from the AMZN stock and this might reduce the attractiveness of the stock for the investors.
AMZN Stock Price Technical Analysis in 1-D Timeframe
The stock has a CMP of $127.96 and an intraday gain of 1.59%. The stock’s average volume for the last 10 days is 57.027 Million and its current volume is 46.837 Million. The stock has a float of 8.988 Billion shares and a market cap of $1.313 Trillion.
The AMZN price was surging from $81 on the charts in January 2023 and reached a high of $146.The AMZN stock’s journey had some setbacks but it overcame them and showed wonderful performance in rising upwards, but recently the uptrend got violated as the price faced profit booking from the supply level and fell below the previous swing low of around $130. At present, it is trying to sustain support on the charts.
Therefore, if Amazon stock manages to gain strong buying momentum and surges, It could trigger a rally and the probable resistance levels are $130 and $135.
Alternatively, if the stock continues to fall below and if it breaks below the current levels and breaks below $125 support, then it could fall up to $120.
At the time of publishing, the major EMAs in Amazon.com, Inc. (NASDAQ: AMZN) are bearish. MACD shows a bearish cross on the charts and RSI is at 43 taking support from 14 SMA.
However, the ratings for the stock are strongly positive and highly recommended based on 51 analysts who have evaluated the stock in the last three months. The 1-year price forecast for the stock by 44 analysts ranges between $136 to $230.
Summary
Amazon.com, Inc. (NASDAQ: AMZN) chart price indicates that the traders and investors of the stock price are highly bullish and positive on the 1-D timeframe. However, the price action shows a bearish outlook at the time of publishing as the price broke the previous swing low. Also, The technical analysis tools of Amazon stock price such as EMA, RSI, and MACD highlight downward signals and support bearishness.
Technical Levels
Support levels: $125 and $120
Resistance levels: $130 and $135
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/10/07/amzn-stock-is-nasdaq-amzn-about-to-land-at-100-price-soon/