A very strong day for Amazon stock price on Friday

The Amazon stock price gained 15.32% on the last trading day (Friday, 31st Jul 2026), rising from $235.50 to $271.58. During the last trading day the stock fluctuated 4.26% from a day low at $262.06 to a day high of $273.22. The price has fallen in 7 of the last 10 days but is still up by 9.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 47 million more shares were traded than the day before. In total, 126 million shares were bought and sold for approximately $34.19 billion.

On Jul 31, 2026, it was reported that Telsey Advisory gave AMZN a "Outperform" grade with a "hold" action.

The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $248.06, a level that may pose a second chance to hit a runner. According to fan-theory $283.49 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

The Amazon stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $237.39 and $241.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, July 29, 2026, and so far it has risen 19.82%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $240.14 and $235.50.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Amazon finds support just below today's level at $240.14. If this is broken, then the next support from accumulated volume will be at $235.50 and $232.69.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $11.17 between high and low, or 4.26%. For the last week, the stock has had daily average volatility of 3.06%.

Amazon holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold candidate.