Amazon’s data and third-party estimates indicate strong growth in Prime Day sales compared to 2019.
According to e-commerce website Digital Commerce 360, Amazon garnered $10.4 billion worth of sales globally on Oct. 13 and 14 as its Prime Day event began. The estimate represents a 45.2% increase relative to the $7.16 billion in sales estimated for Amazon’s July 2019 Prime Day event.
A day earlier, Amazon claimed that its marketplace sellers generated more than $3.5 billion in sales across the 19 countries in which Prime Day was held on Oct. 13 and 14. That is almost +60% annual increase. ( The estimate doesn’t include India’s Prime Day event, which took place in August.).
Digital Commerce 360 estimates marketplace sellers accounted for 35% of Amazon’s Prime Day sales vs. 32% in 2019, but well below their share of Amazon’s annual e-commerce sales.
Tickeron's analysis shows:
AMZN in upward trend: price rose above 50-day moving average on October 09, 2020
AMZN moved above its 50-day Moving Average on October 09, 2020 date and that indicates a change from a downward trend to an upward trend. In 26 of 33 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 79%.
Current price $3208.30 crossed the resistance line at $3284.72 and is trading between $3284.72 resistance and $3182.41 support lines. Throughout the month of 09/16/20 - 10/16/20, the price experienced a +6% Uptrend, while the week of 10/09/20 - 10/16/20 shows a -0.42% Downtrend.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 07, 2020. You may want to consider a long position or call options on AMZN as a result. In 56 of 79 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 71%.
The Moving Average Convergence Divergence (MACD) for AMZN just turned positive on September 29, 2020. Looking at past instances where AMZN's MACD turned positive, the stock continued to rise in 34 of 47 cases over the following month. The odds of a continued upward trend are 72%.
The 10-day Moving Average for AMZN crossed bullishly above the 50-day moving average on October 13, 2020. This indicates that the trend has shifted higher and could be considered a buy signal. In 7 of 10 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 70%.
Following a +4.78% 3-day Advance, the price is estimated to grow further. Considering data from situations where AMZN advanced for three days, in 282 of 395 cases, the price rose further within the following month. The odds of a continued upward trend are 71%.
The Aroon Indicator entered an Uptrend today. In 230 of 334 cases where AMZN Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 69%.
Bearish Trend Analysis
The 10-day RSI Indicator for AMZN moved out of overbought territory on September 03, 2020. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 56 similar instances where the indicator moved out of overbought territory. In 28 of the 56 cases, the stock moved lower in the following days. This puts the odds of a move lower at 50%.
The Stochastic Indicator may be shifting from an upward trend to a downward trend. In 27 of 70 cases where AMZN's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 39%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where Apple declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 44%.
AMZN broke above its upper Bollinger Band on October 12, 2020. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 56%. During the last month, the daily ratio of advancing to declining volumes was 1.3 to 1.
The Tickeron Profit vs. Risk Rating rating for this company is 3 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 67, placing this stock better than average.
The Tickeron Price Growth Rating for this company is 10 (best 1 - 100 worst), indicating outstanding price growth. AMZN’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 22 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 45 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 99 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (22.24) is normal, around the industry mean (3.33). AMZN's P/E Ratio (125.80) is considerably higher than the industry average of (39.48). AMZN's Projected Growth (PEG Ratio) (14.46) is very high in comparison to the industry average of (1.68). Dividend Yield (0.00) settles around the average of (0.08) among similar stocks. P/S Ratio (4.36) is also within normal values, averaging (4.50).