Amazon stock price ended on $105.66 on Friday after gaining 1.59%

The Amazon stock price gained 1.59% on the last trading day (Friday, 5th May 2023), rising from $104.00 to $105.66. It has now gained 4 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 2.13% from a day low at $103.55 to a day high of $105.76. The price has risen in 6 of the last 10 days but is still down by -1.22% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 56 million shares were bought and sold for approximately $5.96 billion.

Truist Financial is very positive about AMZN and gave it a "" rating on Sep 28, 2022. The price target was set to 170.

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 9.57% during the next 3 months and, with a 90% probability hold a price between $106.08 and $121.36 at the end of this 3-month period.

The Amazon stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, 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 $104.89 and $102.17. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 27, 2023, and so far it has fallen -3.79%. 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).

Amazon finds support from accumulated volume at $105.45 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 $2.21 (2.13%) between high and low. For the last week, the stock has had daily average volatility of 2.56%.

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.