 Hockham traders to another Ticknell earnings report. Preview with me, Patrick Melanie, before we jump into today's report, it's important we're here to the risk disclaimer. The material provided is for information purposes only should not be considered as investment advice. Views, information, and opinions expressed by me in this recording are solely mine. They're not indicative or representative of those held by Ticknell UK or Ticknell Europe, limited. Okay, let's jump into today's report and we are looking at Amazon. Amazon is set to announce earnings after the New York closed this evening. Consensus is looking for earnings per share prints of $9.22 on revenue of $116.32 billion. There's a whisper number on the street that the earnings per share could come in as high as $9.76. In terms of what to look for in the report, the key metric really is revenue generated by Amazon Web Services, Amazon's cloud computing platform. The AWS segment provides global compute storage, database, and other services to start-up, enterprises, governments, and their agencies and academic institutions. AWS represented only 10.1% of Amazon's total revenue for the fourth quarter of 2020. Still, because it has significantly higher profit margins than the company's e-commerce business, AWS accounted for 51.9% of the company's operating income during that period. Amazon faces stiff competition from Microsoft, to Zor, and Alphabet's Google Cloud platform, although the shift towards a work from home economy has continued to stimulate demand for cloud service products. AWS revenue has seen healthy growth in recent years, but it has decelerated only past several quarters. fiscal year 2018, for example, AWS revenue grew by roughly 45% and 49% year every year each quarter. Growth slowed in the mid-30s in fiscal year 2019 and into the high 20s for fiscal year 2020. It has hovered between 28% and 29% for the past three quarters in fiscal year 2021. Analysts expect that trend to continue with AWS revenue rising to 28.7% year every year. Let's take a look at some of the statistical trading patterns around the Amazon Olympics release. The stock has moved lower in the immediate aftermath of earnings, eight out of 12 previous reports, however, on average, the stock is going down 0% for the first day of trading after the earnings release. Based on the previous 12 earnings releases, Amazon is more likely to trade lower one day after earnings for an average loss of 0.5%. Stock has moved higher one week after earnings, eight out of 12 previous reports. On average, the stock moved up 0.8%. In terms of volatility, what the options pricing is giving us, we're looking for about 7.4% move on the earnings. Stock has averaged a 5.1% move in recent quarters. From a flow and sentiment perspective, there was some noticeable buying, 5,685 contracts of the 3,150 call expiring June 17th this year. Options are the flow in general, the sentiment is bearish. Investor sentiment going into the company's earnings release has 60% expecting earnings being consensus estimates of four earnings to decline year-over-year by 41.6% with revenue increasing by 7.19%. Short interest has increased by 4.6% since the company's last earnings release, while the stock has drifted lower by 7.2% from its open following the earnings release to be 12.1% below its 200-day moving average of $3,284. So let's take a look at the technical setup and see where we might have some trading opportunity. So the technical setup is, a corrective pattern is in play at the moment. So versus the swing high here at $3,415, we are now looking for an equality objective test at $2,330. See a nice five-way sequence developing here. So any potential pop from earnings, I've been looking for a drift lower and the area where I'm really looking to get involved is watching how price responds at this $2,330 area. If we get nice bullish reversal patterns there, then I'm looking to engage on the long side and the initial upside objective is going to be back into trend channel resistance, $3,150 on the upside. At this stage, any closing breach of the $2,330 area would be a bearish development and the next downside objective will be coming in at $1,974. And that's, you can see here on the weekly chart prior to the breakout area just below $2,000 there. So watching $2,330 for bullish reversal patterns to engage on the long side, looking for trend channel test. As always, trade the plan and most importantly, manage your risk. So next time, thanks very much.