Amazon depreciates 1.65% with $90.25 as the low of the day

A quick look at yesterday: an influx of sellers pushed Jeff Bezos’s company to session lows around $90.25 while establishing a $90.25 to $93.57 session range yesterday.

United States Unemployment Rate fell short of the 3.4 projections, with new data of 3.6.

This down-slide takes place despite the positive US macroeconomics indicators data that was published earlier — United States Non Farm Payrolls released yesterday at 13:30 UTC is better than expected at 311,000 but down from preceding data of 504,000 according to new data.

Meanwhile, United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 107,100, while the previous figure was 128,800.

Despite being in the red so far in the current trading session, Amazon peaked above its 10 day Simple Moving Average around $93.42 — typically an early indicator of a new bullish trend beginning to emerge. Bollinger Bands® shows an indication of recovery: the lower band is at $89.11, a low enough level to, generally, suggest that Amazon is trading below its fair value. Amazon could begin to recover as it approaches significant support, now $1.27 away from $89.46. Dipping below could be an indication that further losses are ahead.

Overall, looking at the technical analysis landscape, although technical indicators are mixed and pointing in different directions, it seems Amazon is set to appreciate despite today's setback.

Amazon was not the only decliner in the consumer discretionary sector; Walt Disney dips 2.67% yesterday to close at $96.14. Lowe's went down 1.2%, closed at $199.05. Starbucks closed at $99.38 (down 0.92%).

Pointing downwards for around a month. Jeff Bezos’s company has shed 31.56% over the past six months.