Amazon is up 9.93% this year



During today’s session, Japan’s top index rose 0.67%, or 196.62 points, leaving the Nikkei 225 index at 29,499.28 points. This continues the upward trend of recent days, leading the price to the psychological figure of 30,000 points before continuing to search for its zone of annual highs.

Following the increases in Japan, the European session continues the gains in its main stock markets despite the fact that German GDP data for the third quarter was slightly worse than expected from the market consensus, growing by 1.7% compared to the expected 1.8 %.

But without a doubt, the Thanksgiving in the United States is what will mark today’s session. And due to the holiday, there will be no Wall Street updates.

As every year, Thanksgiving is the prelude to one of the most anticipated days of the year, as during Black Friday there are strong discounts on the different products, announcing the start of the Christmas shopping. So over the course of this weekend, a strong avalanche of purchases is expected both in physical stores and across the internet, with Amazon starring as one of the main protagonists of this weekend.

During the Black Friday campaign last year, Amazon earned revenue of $ 4.8 billion, an increase of 60% if we compare it to the revenue earned during 2019. So as we can see, the Covid-19 pandemic last year was key when deciding whether to make purchases physically or via the internet.

This year, as fall progresses and winter approaches, we see a progressive increase in Covid-19 cases. However, the overall pandemic has improved considerably due to the population’s vaccination process, so this could significantly affect sales via electronic platforms.

Therefore, we must be very careful about the sales figures published by both Amazon and other electronic platforms, as these could have a significant impact if the data is worse than last year.

Technically speaking, Amazon is up 9.93% this year, and is currently facing its main support level in the overlapping zone of its 18-session empty moving average and the significant level of support / resistance represented by the orange strip after a lower rebound from the area. of its annual highs in a possible two-pointed formation represented by the green stripe.

Good sales data during this campaign could again give a boost to the price and this could again look for the zone of historical highs. Conversely, a not entirely satisfactory campaign could generate an inferior rupture of this important support level, causing further correction perhaps by seeking its long-term uptrend line.

Source: Amazon Daily Chart on Admirals MetaTrader 5 platform. Data range: from August 21, 2019 to November 25, 2021. Held on November 25, 2021 at 09:35 CET. Please note that past returns do not guarantee future returns.

Price development in the last 5 years:

  • 2020: 76.26%
  • 2019: 23.03%
  • 2018: 28.43%
  • 2017: 55.96%
  • 2016: 10.95%

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