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Is Amazon Headed for a Breakdown? By StockNews

by Mike Robinson

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© Reuters. Amazon is preparing for a breakdown

The chart for Amazon.com Inc (NASDAQ) shows a trendline support level. The trendline level of support is expected to break if the stock falls below it. Learn how you can profit from this trade. Amazon.com Inc. is the largest online retailer. It also happens to be one of the most profitable ecommerce aggregators. Amazon Web Services offers cloud computing and storage as well as advertising services.

Due to its fast delivery times and strong content library, the company is gaining momentum with Prime. AMZN has seen solid growth in AWS adoption and sales in its online shops. Amazon Music’s momentum is driving growth.

According to the latest quarter’s results, cash reserves of $89.9 billion had been increased from $73.3 billion. The current ratio of 1.2 shows that the company has enough liquidity to meet short-term obligations, leading to a Quality grade of B in our POWR Ratings.

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