Amazon stock price ended on $125.98 on Thursday after losing 0%StockInvest.us, 2 months ago
No changes to the price of Amazon stock on the last trading day (Thursday, 28th Sep 2023). During the last trading day the stock fluctuated 2.88% from a day low at $123.04 to a day high of $126.58. The price has fallen in 7 of the last 10 days and is down by -12.95% for this period.
On Sep 26, 2023, it was reported that Cowen & Co. gave AMZN a "Outperform" grade with a "hold" action.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $126.16. A reaction back to this level may hold a second chance to get out before further falls.
A buy signal was issued from a pivot bottom point on Tuesday, September 26, 2023, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $128.99 and $135.71. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.54 between high and low, or 2.88%. For the last week, the stock has had daily average volatility of 2.94%.
The Amazon stock holds several negative signals and despite the positive trend, we believe Amazon will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Check full Amazon forecast and analysis here.