Market Overview

Amazon Down 3% After Mixed Q2 Report

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Amazon.com, Inc. (NASDAQ: AMZN) shares are trading lower by $33.00 at $1013.00 in Friday's session.

The stock in the red, adding to Thursday's decline of nearly $7.00, following a mixed Q2 report. The company came up well shy for EPS by $1.02 but beat on sales by $800 million. At this time, the Street is putting more emphasis on the earnings shortfall than the revenue beat.

After a lower open, Amazon immediately went to test the psychological support level of $1000.00, which was backed up by the pre-market low of $1001.08, when it reached $1001.00 and reversed course. The stock rallied back to make a new high for the session at $1114.67, but has backed off that high.

If Amazon's stock breached the intraday low, there may be additional support at the pair of lows from July 13 ($995.90) and July 14 ($996.89).

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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