 Welcome traders to another Tickmill earnings season preview with me, Patrick Munley. Before we jump into today's report, as always, want to adhere to that risk disclaimer. Most pertinent to today's presentation is the fact that the views and opinions expressed by me are solely mine. They're not indicative or representative of those held by Tickmill UK or Tickmill Europe limited. Okay, let's jump into today's report and we are looking at Amazon. Amazon set to announce earnings after the close of trade in New York today, looking for an EPS of 0.174 on revenue of 145.713 billion. Given the negative impacts of inflation and rising interest rates on consumer spending, Amazon's Q4 revenue growth could decelerate further. Also, adverse currency movements will likely remain a drag. Amazon expects its Q4 revenues to increase by 2% to 8% year over year. The guidance includes a negative impact of 460 basis points from the foreign exchange rates. Further, the outlook indicates a deceleration in top-line growth compared to Q3 results. In the third quarter, Amazon's net sales increased by 15%. It's worth highlighting that Amazon's top-line growth has moderated in the last two consecutive quarters. Amazon's sales are likely to remain pressured, so its bottom line could significantly decline. Expect Amazon's Q4 sales to come in around that 144, 145 billion area, which is the midpoint of the guidance range. Q4 sales will likely struggle to meet consensus estimates of 148.3 billion. Furthermore, expect Amazon's top-line to benefit from the momentum seen in Amazon Web Services revenue. Moreover, the first time ever Prime Early Access sales in Q4 will likely also support revenues. However, the Prime Early Access sales could pressure margins. Nevertheless, expect the company to benefit from subscription expansion, advertising revenue growth, a focus on driving high-margin third-party sales, and strengthen that Web Services business. Also, Amazon is likely to put an emphasis on cutting costs, which augurs well for future growth. Let's take a look at some of the statistical trading patterns that we can expect around the Amazon earnings release. Amazon shares have moved lower in the immediate aftermath of earnings, 8 out of 12 previous reports. On average, the stock has moved down 0.9% in the first day after announcing earnings. Based on the previous 12 releases, Amazon is more likely to trade lower one day after earnings for an average loss of 0.4%. On average, the company stock has moved lower 0.2% one week after earnings. Let's take a look at where we are from an analyst perspective. Of the 54 analysts who have given a rating to the stock in the past three months, most of them have Amazon at a strong buy. In terms of forecasts for the next 12 months, from a share price perspective, we have an average price of a target of $132.30, with the maximum being a $170 upside, with the downside capped at around the $80 level. From a flow and sentiment perspective, options traders are pricing in a 7.5% move on earnings. Stock has actually averaged a 6.3% move in recent quarters. The options market has overestimated Amazon stock. Earnings moved 46% of the time and lost 13 quarters of data. There has been notable buying 19,240 contracts of the $105 call expiring on Friday. Options order flow in general has been bullish, along with large block money flow also bullish. Investor sentiment has 57% expecting an earnings beat today. Let's pull up the chart and see if we can identify any near term trading opportunities for the stock. Amazon has put in a trading low here at the $82 level and we are now tracking potential three-way corrective move, which should see us trade up into that 109. We have a gap there just above at 111. I would be looking for long positions looking to extend through the 106 handle. Obviously we have that 105 call, which is in the money, looking for 109 and then on to test the yearly pivot at 112.47. If we can get through there and the weekly high volume node, we have weekly trend channel resistance coming in at 126. At this stage, difficult to get bearish on the stock unless we take out the high volume node, $94 and that pivot low there, $91.60. That would likely have us trading back down to retest cycle as the 81 level. But for now, constructive, certainly we have this nice bullish trend channel. Any pullbacks into that 98, 99 level, we're looking for bullish reversal patterns to engage on the long side. Alternatively, any breakthrough that 106.50, I want to be long targeting those upside objectives. As always, traders plan the trade, trade the plan, and most importantly, manage your risk. Until next time, thanks very much.