Amazon (AMZN) Loses 2% Ahead of Earnings

Posted: Monday, January 30, 2012 10:47 AM EDT
By: Bobby Raines





Amazon (NASDAQ: AMZN) was lower along with the overall market on Monday. The company is scheduled to report earnings tomorrow. Analysts currently expect EPS of 18 cents on revenue of $18.20 billion.

A February 230/235 Out of The Money Bear-Call Credit Spread looks like an attractive way to play AMZN today. This strategy aims for a return of 4.38% and AMZN is 20% out of the money. Recent support for this stock has been demonstrated near $190.56 while resistance has been around $198.90.

Amazon is trading today at $191.16, down $4.21 (-2.12%) from yesterday’s close. The stock began the day trading at $194.00 and has moved between $190.13 and $195.00. Recent technical indicators for the stock are neutral and Standard & Poor’s gives AMZN a neutral 3 STARS (out of 5) hold. [MarketIntelligenceCenter.com]



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