Amazon.com, Inc. engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.
Amazon (NASDAQ: AMZN) is soaring again, breaking all-time highs and trading at exorbitant prices of around $2372 per share. We can see how that strong weekly demand imbalance has been created around $1993, very close to the $2000 price level. There is a clear long-term bias on Amazon, with new demand imbalances being created and respected. The coronavirus correction that happened for two months is now left behind, leaving us with a renewed long bias and strength imbalances to go long at.
We don’t need fundamental analysis to make a trading decision on Amazon stock, but if you still want to learn some fundamentals about the company and its earnings, read below.
Amazon.com reports first-quarter earnings after the close of trading on Thursday, and expectations on Wall Street are running sky high. With many millions of people sheltering in place, the e-commerce giant has been deluged with demand. Early in the crisis, the company announced plans to hire 100,000 extra workers. A few weeks later, those slots filled, Amazon announced plans to hire 75,000 more.
Amazon shares (ticker: AMZN) have surged 27% year to date, establishing a record high. We can see how that strong weekly demand imbalance has been created around $1993, very close to the $2000 price level.
This is the kind of amazon price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.
Trading supply and demand imbalances are ideal for beginners and those with full or half-time jobs. You won’t need to stay in front of the computer all day long trying to move price action with your mind.
You can learn trading for beginners in a few months to trade like a professional trader.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.
Unless you are doing very short-term trading and scalping, you should not worry about fundamentals or earnings announcements on Amazon (NASDAQ: AMZN).
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
If you want to learn how to trade stocks using our supply and demand trading strategy make, click here and visit our online trading academy.
There are several ways of buying stocks and futures. When trading stocks, you can buy shares of the underlying stock or use options strategies to go long or short at these specific supply and demand levels, long calls or long puts or spreads. You can even buy a CFD (contracts for difference) on Amazon (NASDAQ: AMZN) if you are in a country where it’s allowed.
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