Starting in 2024, Amazon is looking to include limited advertisements on its Prime Video service. Regions include the US, Canada, Germany, and the UK, with US subscribers able to pay an extra $2.99 per month for an ad-free service.
This is likely to contribute to the company's bottom line, specifically adding to Amazon's advertising revenue. Reports indicate an initial 3 minutes of ads per hour, with potential to increase this over time.
- The Amazon daily chart does show signs of stress.
- Its green 5-day EMA is below its orange 10-day EMA.
- This is a bearish formation.
- Moreover, the daily RSI is on the bearish side of 50 (blue rectangle), suggesting an underlying negative momentum.
- There is a support zone around the $125 level (green shaded horizontal).
- This may bring in some buying from the sidelines.
- However, a pullback in yields will help in this regard.
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.