Amazon currently down 0.74% halfway through today

The tech and retail multifaceted giant slides down from $102.4 to $101.64, losing 76 cents (0.74%).

Highly important Core Retail Sales data from United States beat analyst expectations of -0.3% with a reading of -0.8%. Highly important Retail Sales data from United States beat analyst expectations of -0.4% with a reading of -1%. Highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%.

Amazon made an initial break below its 10 day Simple Moving Average at $101.71, a possible indication of a forthcoming negative trend. Amazon's upper Bollinger Band® is at $104.41 which indicates a further downward move may follow. Despite this, Amazon could begin to recover as it approaches significant support, now $1.76 away from $99.88. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, it seems Amazon is likely to continue pointing down in the short term.

Amazon's stock value drop coincides with Walt Disney is down to $99.13, losing 1.7%, after ending yesterday at $100.84. Alibaba is down to $94.22, losing 2.03%, after ending yesterday at $96.17. Toyota is down to $136.22, losing 0.74%, after ending yesterday at $137.23.

Having set a significant low of $81.82 3 months ago, the tech and retail multifaceted giant is trading 25.15% higher.