Amazon for 24/04/2019 #Gold #SP500

As one of those folk who has a lot in common with Amazon, it made sense to review their potentials prior to results being released on Thursday. Of course, the “lot in common” is best expressed with a ridiculous self belief of being able to do anything, a character facet (flaw) which Amazon also exhibits as they attempt enter every field.

This self belief came to a crashing halt earlier today. Regular readers will recall mention of a love affair with my little red tractor. Amazon delivered a present in a large tube, several square meters of red Vinyl Wrap. The tractors bonnet had been growing rusty blisters under its paintwork and, having watched numerous shows on TV where car restorers easily employed Vinyl Wrap to cover multitudes of sins, my little tractor was about to be renewed to pristine condition.

Perhaps I should have remembered something important. I’m quite literally banned from wrapping presents at home, my wife preferring to be blindfolded and wearing gloves while she gift wraps anything I’ve bought her. All joking aside, both wife and daughter ensure I never wrap a gift, believing I’m in the pay of the sticky tape and wrapping paper industries. But surely self adhesive Vinyl Wrap could be easier? And a Hot Air gun during application would melt away any crimes…

Typing this, now with burnt fingers and a suspicious bald patch on my arm, the little red tractor sits on the lawn and looks quite dreadful. Quite honestly, I would have achieved a smoother, more visually pleasing, effect if I’d chosen to glue strips of bubble wrap onto the bonnet. Clearly, I cannot do anything and it makes me wonder if Amazon, once a reliable bookseller, will continue to produce positive results.

Will Amazon ever meet its Vinyl Wrap moment?

As the share price trundles on toward results day, we’re calculating a trigger level of 1979. To be fair, this is the initial target level with moves now above 1930 indicating the potential of 1979 making an appearance. Above this level and things get interesting, provoking 2206 as possible. This would present a new “all time high” for Amazon and take the share price into a region where a distant 2674 will be regarded as influencing price growth.

Essentially, the 2674 ambition will tend make positive news cause the share price to outperform, whereas negative news will tend underperform. Unless, of course, it’s really negative – a Vinyl Wrap moment!

If everything were to go wrong for Amazon, the share price needs move below the 1600 level. Visually something has been happening at this level until recently as now, below 1600 indicates coming weakness to 1245 initially. If broken, it should bottom around 996.

We suspect our calculation of 2206 shall prove viable, given share price performance this year.

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

9:16:43PM

BRENT

74.02

               

‘cess

9:20:04PM

GOLD

1272.7

1270

1265

1255

1280

1280

1282.5

1288

1271

Success

9:31:41PM

FTSE

7520

               

Success

9:50:30PM

FRANCE

5592.7

               

9:52:42PM

GERMANY

12251

               

9:58:57PM

US500

2935.37

2900

2889.5

2874

2921

2937

2941

2953

2909

Success

10:00:46PM

DOW

26651.9

               

‘cess

10:03:38PM

NASDAQ

7814.62

               

Success

10:05:23PM

JAPAN

22357

               

‘cess

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