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Amazon stock price ended at $182.15 on Tuesday, after gaining 0.775%.

StockInvest.us, 3 weeks ago

Amazon

The Amazon stock price gained 0.775% on the last trading day (Tuesday, 28th May 2024), rising from $180.75 to $182.15. During the last trading day the stock fluctuated 1.53% from a day low at $179.49 to a day high of $182.23. The price has fallen in 7 of the last 10 days and is down by -2.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 29 million shares were bought and sold for approximately $5.35 billion.

On May 23, 2024, it was reported that MoffettNathanson 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 5.17% during the next 3 months and, with a 90% probability hold a price between $186.26 and $204.08 at the end of this 3-month period.

Amazon

The Amazon stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $182.64 and $183.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -3.88%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. Volume is rising along with the price. This is considered to be a good technical signal.

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 $2.74 (1.53%) between high and low. For the last week, the stock has had daily average volatility of 1.69%.

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Check full Amazon forecast and analysis here.