Amazon.com posted a profit of $ 3 billion, or $ 6.04 per share, in the last three months of 2018, beating analyst expectations of $ 5.65 per share.
Reflecting a strong holiday season, Amazon unveiled revenues of $ 72.4 billion - the company's highest quarterly earnings - beating analysts' forecasts at $ 71.88 billion.
Despite these strong results, analysts expect e-commerce sales to slow in the first quarter of this year.
The company achieved strong sales from e-commerce, but sales in physical stores fell 3 percent in the fourth quarter of 2018, recording $ 4.4 billion from $ 4.52 billion in the third quarter.
Amazon ranks first as the largest listed US company by market value, surpassing technology companies such as Microsoft, Google, and Apple.
Technical Analysis
Amazon is re-rising for a third session after the decline in the last three sessions as the stock approached the 1591.00 support level and rebounded.
The SMA 50 is support for the price at the mentioned level.
The moving averages 7-20 support the price to the upside as these averages move parallelly below the price and form positive pressure to push it higher
The Stochastic is providing positive information, giving a bullish cross signal and heading towards the overbought area
All these data make us likely to continue the bullish path and test the resistance levels to come.
The expected movement between support is 1.591.40 and resistance 1838.00
Support and resistance:
Support: 1591.40-1481.85
Resistance: 1783.40-1838.00
The general direction of the movement: upward