Amazon stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.StockInvest.us, 1 week ago
The Amazon stock price fell by -0.0937% on the last day (Wednesday, 12th Jan 2022) from $3307.24 to $3304.14. During the day the stock fluctuated 1.50% from a day low at $3288.34 to a day high of $3337.56. The price has fallen in 8 of the last 10 days and is down by -2.36% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 0 shares were bought and sold for approximately $0 .
On Jan 11, 2022 "Morgan Stanley" gave "$4,000.00 - $4,200.00" rating for AMZN. The price target was set to $3,307.24+2.4%.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3227.09 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -2.22% during the next 3 months and, with a 90% probability hold a price between $3155.45 and $3566.51 at the end of this 3-month period.
There are mixed signals in the stock today. The Amazon stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $3409.03. On a fall, the stock will find some support from the short-term average at $3284.98. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, January 11, 2022, and so far it has fallen -0.0937%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Amazon finds support from accumulated volume at $3287.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $49.22 between high and low, or 1.50%. For the last week the stock has had a daily average volatility of 2.44%
Amazon holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.Check full Amazon forecast and analysis here.