AMZN, COST and WMT Forecasts – US Retailers Look Positive in Premarket Trading

AMZN Technical Analysis

The market for Amazon looks like it’s going to perk up a bit here on Thursday as we head toward non-farm payroll on Friday, but hanging around the 50-day EMA shows signs of at least trying to stabilize the recent sell-off. At this point, it looks like we’re probably going to try looking toward the $257 level. If we can break that, then it could pick up a bit of momentum. Dropping from here could send Amazon down to the $240 region.

COST Technical Analysis

Costco looks like it’s going to jump as well, and I think it is going to jump back above the 200-day EMA. We may have bottomed out; we’ll have to wait and see. I do believe it’s probably only a matter of time before we do rally, Costco being such a popular stock in the United States recently. We had earnings call that was a little bit of a miss, so keep that in mind, but ultimately this is a market that I believe is going to try to continue the upside right along with many other retailers.

WMT Technical Analysis

Walmart looks like it’s ready to jump. It’s bouncing from the 200-day EMA as well, almost in lockstep with Costco. Makes sense, they’re major competitors. Walmart recently had a pretty decent earnings call, but the forward guidance I think probably made people a little nervous. Nonetheless, I would anticipate a return to fill the gap at $130. This is a market that can be more of a grind, but you can see over the last couple of years it’s quietly been one of the better performers out there.

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