Amazon stock price ended at $181.28 on Wednesday, after gaining 1.08%.

The Amazon stock price gained 1.08% on the last trading day (Wednesday, 5th Jun 2024), rising from $179.34 to $181.28. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.54% from a day low at $178.75 to a day high of $181.50. The price has fallen in 6 of the last 10 days and is down by -1.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 31 million shares were bought and sold for approximately $5.54 billion.

On May 31, 2024, it was reported that Needham gave AMZN a "Buy" grade with a "hold" action.

The stock lies in the middle of a 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 3.55% during the next 3 months and, with a 90% probability hold a price between $182.88 and $199.89 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 2.74%. 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. 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 $181.96. On a fall, the stock will find some support from the short-term average at $179.84. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Amazon finds support from accumulated volume at $179.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.75 (1.54%) between high and low. For the last week, the stock has had daily average volatility of 1.95%.

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.