- Amazon is rumored to be interested in acquiring Electronic Arts.
- Amazon struck a massive deal with Plug Power on Thursday.
- AMZN stock looks likely to head lower.
For stocks these days, appearing in with Almighty Amazon (AMZN) In the same headlines, this is a very good sign. CEO Andy Jassy is taking action.
Plug Power (PLUG) in with the king of online sales Its shares surged 9% to $30 on Thursday after news of the partnership to supply liquid hydrogen. The partnership calls for Plug Power to supply Amazon with 10,950 short tons of green hydrogen starting in 2025. The project is part of Amazon’s strategy to become carbon neutral by 2040. Plug has been working with Amazon for some time, as it has supplied the retailer with 15,000 hydrogen fuel cells for its forklifts since 2016.
“A green hydrogen supply agreement with a customer like Amazon validates our Plug CEO Andy Marsh ) said: “We are excited to expand our partnership with Amazon to explore other hydrogen applications, such as fuel cell electric trucks and fuel cell power generation. “Power stations that can power Amazon buildings and deploy electrolyzers in fulfillment centers.”
Electronic Arts ( EA) shares also rose 4.8% at the open on Friday after rumors that Amazon might be interested in buying a video game empire. Shares were up 14% in premarket trading before falling during regular trading hours as the report was unconfirmed. Buying the video game studio would put Amazon in direct competition with Microsoft (MSFT) , which earlier this year announced a $69 billion acquisition of Activision Blizzard (ATVI) ). Electronic Arts is a similarly sized company, but with a current market cap of $37 billion. USA Today broke the news of a possible acquisition, but did not provide any rumored price. The article says Walt Disney (DIS) and Apple (AAPL) are also interested.
Amazon Stock Forecast
Amazon stock recently experienced a flip in the Moving Average Convergence Divergence (MACD) indicator. Likewise, the 9-day moving average has fallen below the 21-day moving average. Both of these factors make AMZN stock look set to fall. The nearest support level is $125. The outlook for FXStreet will change if AMZN closes above near-term resistance at $144. The long-term bearish price target is $102.50, which was multi-session support earlier this year. The long-term bull market target is $170.
AMZN 1-day chart 
Plug Power Stock Forecast
PLUG stock has been on an uptrend like most of the market since May 12, but things did start July 28. Thursday’s high of $31.56 created a new high above April 4. This makes us bullish on PLUG stock. $32.50 is the next resistance level to watch, but above that is $37, which looks to be part of an important price objective. On the downside, nearby support lies at $28 and $25.50.
PLUG DAY Line Chart
Electronic Arts Stock Forecast
EA stock is well below its 2022 low of $109.24. Buying Electronic Arts stock may be safe if an offer is made next month, as Friday’s gains of less than 5% won’t result in a massive sell-off without a formal takeover bid. However, EA stock’s Where is the right price? Shares have generally encountered resistance around $148 to $150 for the past two years, so it doesn’t look like buyers need much higher than that. The $160 price tag would give current buyers about 18% profit, but that’s of course just speculation.
EA Weekly Chart
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