Amazon stock price ended on $130.75 on Friday after losing 4.76%StockInvest.us, 1 month ago
The Amazon stock price fell by -4.76% on the last day (Friday, 26th Aug 2022) from $137.28 to $130.75. During the last trading day the stock fluctuated 5.62% from a day low at $130.50 to a day high of $137.83. The price has been going up and down for this period, and there has been a -8.92% loss for the last 2 weeks. Volume has increased on the last day by 16 million 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, 53 million shares were bought and sold for approximately $6.96 billion.
Deutsche Bank is very positive about AMZN and gave it a "$155.00 - $175.00" rating on Jul 29, 2022. The price target was changed from 155 to 175.Over the last 90 days, this security got 17 buy, 21 sell, and 0 hold ratings.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $126.26 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 27.38% during the next 3 months and, with a 90% probability hold a price between $160.83 and $189.68 at the end of this 3-month period.
The Amazon stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $135.60. On a fall, the stock will find some support from the long-term average at approximately $129.92. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Tuesday, August 16, 2022, and so far it has fallen -9.69%. 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). 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 $124.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $7.33 between high and low, or 5.62%. For the last week, the stock has had daily average volatility of 2.93%.
Amazon holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full Amazon forecast and analysis here.