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The Amazon stock fell by -2.32% in the last day (Wednesday, 14th Oct 2020) from $3 443.63 to $3 363.71. During the day the stock fluctuated 3.74% from a day low at $3 340.00 to a day high of $3 464.88. The price has risen in 6 of the last 10 days and is up by 6.83% over the past 2 weeks. Volume has increased in the last day by 99 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $19.34 billion.
On October 09, 2020 "Mizuho" gave "Positive - Buy" rating for AMZN. The price target was set to $3,700.00 - $4,000.00.Over the last 30 days this security got 7 buy, 0 sell and 0 hold ratings.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 3.89% during the next 3 months and, with a 90% probability hold a price between $3 109.15 and $3 732.13 at the end of this 3-month period.
The Amazon stock holds buy signals from both short and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3 289.02 and $3 218.25. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday October 13, 2020 , and it has fallen so far -2.32%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Amazon finds support from accumulated volume at $3 294.62.
This stock have average movements during a day and with good trading volume the risk is considered as medium. During the last day, the stock moved $124.88 between high and low, or 3.74%. For the last week, the stock has had daily average volatility of 3.02%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Amazon stock to perform well in the short-term.
Check full Amazon forecast and analysis here.