-- Amazon will hold its second Prime sale of the year later this month. Here's how the charts are shaping up now. -- By Bret Kenwell, TheStreet.com Amazon (AMZN) has been a really interesting stock so far this year. And it is starting to show some resilience. Perhaps that resilience stems from the approaching holiday season. Maybe it's that the tech and e-commerce giant has a second Prime sales event planned for next week - the first time it's had two Prime sales events in the same year. Amazon's business has been a mixed situation. While its e-commerce leg has struggled with inventories - as have most retailers - and with concern about consumer spending and inflation, Amazon's cloud business has been robust. Plus, don't forget about the 20-for-1 stock split it did this year. Put it altogether and we have a stock that is now holding up better than… more
Yes, the bulls are rockin' and rollin' here. The S&P 500 just logged its best two-day gain since April of 2020, rallying 5.7% from Friday's close. The move offers a glimmer of hope for those traders who lost it after last Friday's tumble under some key technical floors. Just don't jump to any sweeping conclusions about what you think it... more
The bulls tried their best, pushing stocks into the black for a short while last week following the previous week's crash. When push came to shove though, it was the bears doing most of the shoving. The market ended last week on a bearish foot, and below some key lines in the sand. Except, there's one small glimmer of hope... more
— Rite Aid stock is getting hit on the earnings report, sending the stock down near 2022 lows. And it's not that far from the 2009 lows. — By Bret Kenwell, TheStreet.com Shares of Rite Aid (RAD) on Thursday have lost more than a quarter of their value after the drugstore chain reported earnings. Of course, the broad stock market... more
The market's in the red for the week, losing ground on Monday and then giving up intraday gains on Tuesday. The S&P 500, however, still hasn't broken below the major technical floor that's staving off another serious round of selling. We mentioned it in Sunday's Weekly Market Outlook but it bears repeating now… the S&P 500 is dancing with support... more
— Tesla stock faces a key hurdle on the charts. Here's what happens if resistance rejects it. — By Bret Kenwell,TheStreet.com Tesla (TSLA),Apple (AAPL) and a handful of other stocks have shown relative strength in the face of the recent stock market decline. That may be coming to an end as the bear market dials up the heat, as it's... more
Following through on the previous week's bearish reversal and spooked by the implications of a three-quarter point rate hike, traders bailed out in a big way last week. The S&P 500 lost 4.6% of its value over the course of the five-day stretch, and while that wasn't quite the lowest close the index has logged this year, the Dow Jones... more
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