Amazon: rise to 6-month resistance?

Amazon: rise to 6-month resistance?

2021-02-01 • Updated

Amazon reports it Q4'2020 earnings on February 3, 00:30 MT time (after Tuesday’s midnight).


Since August 2020, the highest point for the Amazon stock price has been 3 545 and the lowest 2 900. For six months, the price has been oscillating between these two extremes with diminishing magnitude to gradually convert into the last episode of sideways channel 3 100 – 3 345.  Logically, as long as the fundamental outlook for Amazon is positive, the price is likely to bounce upwards and eventually cross the resistance levels of 3 345, 3 445, and 3 545 to take direction to new all-time highs. Otherwise, it may be going sideways for quite a considerable period. That’s why we need to see the Quarterly Earnings Report on February 3, 00:30 MT time (after Tuesday’s midnight).



While in the 3000-plus zone, Amazon’s stock price is slightly underperforming against the Wall Street 52-week expected mark of 3 800. In terms of EPS, the expectation is 7.26 for the Q4’2020. Observers are mostly positive about the possible results: the performance of Amazon’s key businesses (cloud computing and e-commerce) is expected to be promising. Also, Amazon Prime Day took place during Q4 and it will likely contribute to the financial result. Therefore, a rise back up to 3 545 seems to be a likely result of the Q4 performance announcements. In the mid-term, it may turn out to be an impulse required to push the stock price above the 6-month resistance.


Source: Investopedia

Don't know how to trade stocks? Here are some simple steps.

  1. First of all, be sure you’ve downloaded Metatrader 5 or FBS Trader app. FBS allows you to trade stocks only through this software.
  2. Open the MT5 account in your personal area (in account in FBS Trader)
  3. Start trading!

                                                                                    LOG IN


How will the reporting season affect US indices?
How will the reporting season affect US indices?

Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.

Latest news

Gold is Rising Despite Inflation Returns
Gold is Rising Despite Inflation Returns

Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.

Can the Chinese Economy Recover?
Can the Chinese Economy Recover?

Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera