Amazon (AMAZON) shares rose in after-hours trading following the NBA's announcement of a new broadcasting deal with Prime Video. The agreement, which includes partnerships with Disney and NBCUniversal, will allow Amazon to telecast NBA games starting from the 2025-26 season through 2035-36. Amazon's Prime Video will stream 66 regular-season games, the Championship Game of the Emirates NBA Cup, all six NBA Play-In Tournament games, and parts of the playoffs, including a Conference Finals series in six of the 11 years. This partnership aims to maximize the reach of NBA games globally and enhance the fan experience. Amazon will also become a strategic partner of the NBA, distributing NBA League Pass globally.
AMAZON – H4 Timeframe
From the technical analysis side of things on the 4-hour timeframe chart of AMAZON, we see the bullish array of the moving averages as price dips towards the Daily timeframe pivot zone, and the drop-base-rally demand zone. The demand zone also happens to fit within the key level of the Fibonacci retracement of the bullish swing. These confluences persuade me in favor of the bullish sentiment as we head halfway through the third quarter of the year.
Analyst’s Expectations:
Direction: Bullish
Target: 199.59
Invalidation: 166.56
MICROSOFT– H4 Timeframe
MICROSOFT presents a similar argument – bullish. In this case, however, the double bullish break of structure is the initial, most-noticeable factor, followed closely by the spread of the trendline support, and then the Fibonacci retracement levels. The drop-base-rally demand zone is the final confluence in favor of a bullish sentiment.
Analyst’s Expectations:
Direction: Bullish
Target: 467.08
Invalidation: 387.54
CONCLUSION
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