Amazon is set to report its quarterly earnings of $0.2184 a share on revenue of $127.76 billion. RSI reads 45 and MACD is negative.

Amazon is expected to report its quarterly earnings of $0.2184 a share on revenue of $127.76 billion. From a technical perspective, the stock is currently trading at $115.48 a share with resistance at $117.54 (middle moving average of the Bollinger bands), then at $118.23 then a major level at $119.34. A break above this major resistance could see the stock head up towards the highs of $120-$121. Towards the downside, support sits at $114.18 followed by a major support level at $113.18. A break below the major support level could see the share price dip towards the $105-$106 price range. Looking at the technical indicators, RSI is floating around neutral/negative territory as it reads 45 and MACD is negative.