Amazon shares form ‘golden cross’ as Prime Day kicks off
Things are looking up for both Amazon shoppers and shareholders. A look at the dominant e-commerce platform’s stock price chart shows the formation of a “golden cross.” The pattern, widely followed by chart analysts and seen as an indicator of future upside momentum, occurs when a stock’s 50-day moving average breaks above its ascending 200-day counterpart. Amazon’s 50-day moving average of $206.46 recently rose above the 200-day average of $206.04, according to FactSet data. The milestone comes as Amazon kicks off its summer Prime Day sale, which began as one day but now lasts for four. “In our view, this event represents an opportunity for consumers to take advantage of discounts before prices inevitably rise in H2:25,” Monness, Crespi, Hardt & Co. analyst Brian White wrote Monday, pointing to potentially higher U.S. tariffs on imported products. One area to keep an eye on during the sale, which runs through Friday, is health and beauty product sales, according to Dana Telsey of Telsey Advisory Group. “Beauty is typically one of the strongest categories for Amazon during its Prime Day event,” Telsey said. “The U.S. beauty market is expected to post positive growth YoY in 2025, although the industry continues to stabilize.” Looking back at Amazon stock, while it has rallied more than 30% over the past three months, it remains nearly 8% below its intraday record high set in early February. Now that Amazon has formed the golden cross chart pattern, a run back to those levels could be in the cards. Elsewhere Tuesday morning on Wall Street, JPMorgan Chase was downgraded by HSBC to reduce from hold. “While we continue to see … JPMorgan maintaining best-in-class profitability and leadership positions across its businesses, we think the bar is high for JPMorgan and we struggle to justify the current valuation,” analyst Saul Martinez wrote in a note .
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