Mag0367

AMZN at major inflection point. Been congested right at the 50% retracement between last Aprils low of 161.38 and Nov’s high of 258.60.
This point is 209.33. AMZN bulls and bears in tug of war.

Inside candle day today

Put another way, a poor income statement can’t rescue a slightly improved balance sheet. Just the opposite.

In their mandatory efforts to cut fat, seems to me some muscle is being sacrificed. Troubling sales numbers continue. Competition remains brutal. With certain stocks doing so well this year, AAP might experience tax loss selling between now and EOY.

A turnaround of the magnitude being attempted takes YEARS to accomplish. And that’s assuming it’s successful. They’re shedding assets because they have to, not because they want to. Meanwhile, their supply chain inefficiencies remain, with only a pledge to improve - but not a plan that I’ve read. If Earnings exp are simply met, it might create a short-lived dead cat bounce in shares - bc sentiment is so low. Another earnings miss could easily send this one into a death spiral. $ much more easily made with considerably less risk, elsewhere. Full disclosure: I own and have owned longer term puts on the stock.