Two reasons to buy Amazon

Two reasons to buy Amazon

2020-09-28 • Updated

Amazon has made two important announces: its famous annual sale Prime Day and the new cloud streaming service Luna. 

What happened?

This event is also called Amazon's version of Christmas in the summer, as it takes place once in a year and becomes some sort of a celebration for its Prime members. Amazon offers enormous discounts, which usually outraces even Black Friday, from October 13 to October 14. As a rule, these two days of discounts greatly boost sales. Why does the company with record revenue of $88.9 billion in the second quarter need it? It turned out the retail giant wants to test its logistics and warehousing facilities ahead of the New Year’s shopping season.

Elsewhere, Amazon claimed its invasion into the video game streaming industry. The company unveiled its cloud streaming platform Luna, which allows playing games without the console or necessity to buy physical games. A fee is just $5.99 a month. Amazon is planning to merge Luna with Twitch to generate the mammoth subscription and advertising service.

What does it mean?

The video games industry is rapidly developing. Therefore, most companies want to get a larger piece of the pie. They are fighting for every dollar. As a result, the cut-throat competition is beneficial for customers as they get better quality at lower prices.

Most analysts foresee that two significant news will drive the stock higher, while Prime Day will add tailwinds in the short term, whereas its development in the streaming industry will remain a long-term driver. Let’s look at the chart.

Technical tips

Amazon is just under $3 100. If it manages to jump above this key level, the way towards the 50-day moving average at $3 175 will be open. It may meet some resistance near that area, but if it crosses it, it may surge to $3 250. Support levels are $3 000 and $2 900.


Follow further stock news as they create market volatility!

What should you do for trading Amazon?

Trading stocks with FBS is easy. Follow the simple steps described below.

  1. First of all, be sure you’ve downloaded Metatrader 5. FBS allows you to trade stocks only through this software.
  2. Open the MT5 account in your personal area.
  3. Reveal all trading instruments by clicking “show all” at the “Market Watch” window.
  4. Start trading!



Oil: Russia-Ukraine Crisis Could Boost Oil Prices
Oil: Russia-Ukraine Crisis Could Boost Oil Prices

Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...

WTI and Brent React To a Key Pivot
WTI and Brent React To a Key Pivot

Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

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