Amazon posted a disappointing result for its Q3 profit in 2018. The company's report shows that the company's sales are slowing down while the salaries of the company's warehouse growers are growing significantly.
Total company passes amounted to $66.5b. with $72.5b expected, while the company's costs are significantly rising - 22% to $52.9b.
As a result, the company's shares traded with a near 8% decrease during the Aftermarket.
The technical price is set under the main support area through strong Price Action, and with this in mind, I expect the main upward movement to move into consolidation or downward trend. Here's the chart:
Alphabet also posted disappointing financial results for Q3. The company managed to realize $ 27.2bn. of sales at an estimated $27.3bn. The reason is that the company has lowered the cost of ad serving by 28%. As a result, during the post-trade, the company recorded a decrease of nearly 5%. Despite the temporary collapse, however, the company remains stable in the long run. Let's take a look at the graph - D1:
Like the Amazon, the price is consistently below the key support levels of 200SMA major upside diagonal and 50% Fibonacci. Currently, the most likely scenario remains a test in the support area of around $ 1000.
After worse data on both companies 'earnings, US index futures headed to the bottom of the day, exacerbating investors' concerns.
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