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In the Premarket trading session on Friday, Amazon’s stock was trading at 1,690.29-lower by 5.08% as compared to its previous close.
The e-commerce giant reported its third-quarter earnings after the market close on Thursday. The company generated an EPS of $4.23 for the third quarter of 2019. The EPS was below the consensus estimates of $4.62. Revenue of $70 billion was, however, above the market expectation of $68.8 billion. Amazon’s total revenue rose 24% as compared with the year-ago period.
The online retailer’s operating profit guidance for the fourth quarter came in the range of $1.2 billion and $2.9 billion. The guidance was below the median forecast of $4.2 billion. The company’s CFO also said that the cost for its one-day shipping program will rose to around $1.5 billion during the holiday season. Amazon stocks have rallied 18% so far in 2019.
On the technical front, the current price is below the MA5 and MA50. The current price is below the middle line of the Bollinger Bands and is heading downwards. The stock is expected to trade lower today.
TRADE SUGGESTION- LIMIT SELL AT 1696 TAKE PROFIT AT 1686 STOP LOSS AT 1701