(Finance) – Difficult day for Amazonwhich collapses on the Nasdaq with a loss of 11.51%, after the warning on turnover launched by the big eCommerce company last night on the occasion of the publication of the quarterly results.
Amazn closed the third quarter with revenues of $ 127.1 billion, an increase of 15% compared to a year ago, but slightly lower than the 127.5 billion expected by the market. The big led by Jeff Bezos, complaining about a slowdown in business and a return of consumers in physical stores after the pandemic, also revised the fourth quarter revenue guidance to 140-148 billion dollars compared to the 155.1 billion of the consensus. The quarter ended with net income down to $ 2.9 billion from $ 3.1 billion the previous year, while EPS stood at 28 cents per share above the 22 cents expected by the market.
The technical scenario seen at one week of the stock compared to the index FTSE MIBhighlights a slowdown in the trend of e-commerce giant compared to main index of the Milan Stock Exchangeand this makes the stock a potential target for sale by investors.
Analyzing the scenario of Amazon there is an expansion of the bearish phase at the test of the support of 96.65 Euro. First resistance at 102.1. Expectations are for an extension of the negative line towards new lows at 93.35.