A trendline level of support has formed in the chart of Amazon.com Inc (NASDAQ:AMZN). If the stock breaks the trendline, lower prices are expected. Read more to learn how to profit from this trade.Amazon.com Inc. (AMZN) is a leading online retailer and one of the highest-grossing ecommerce aggregators. In addition to retail, offerings include Amazon Web Services' cloud computing, storage, database, advertising services, and co-branded credit cards.
The company has been gaining momentum in its Prime service due to fast delivery and a strong content portfolio. AMZN is also seeing growth in its online stores sales and solid adoption in AWS. Momentum in Amazon Music is also driving growth.
As of the most recent quarter, the company had a whopping $89.9 billion in cash, up from $73.3 billion the previous quarter. Its current ratio of 1.2 indicates it has more than enough liquidity to handle short-term obligations leading to a Quality Grade of B in our POWR Ratings system.