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Amazon stock price ended on $2151.82 on Friday after gaining 0.25%

StockInvest.us, 4 months ago

Amazon

The Amazon stock price gained 0.25% on the last trading day (Friday, 20th May 2022), rising from $2146.38 to $2151.82. , and 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 day the stock fluctuated 4.66% from a day low at $2100.19 to a day high of $2197.96. The price has risen in 6 of the last 10 days, but is still down by -6.26% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 566 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $10.73 billion.

The last rating was given by Stifel on Apr 29, 2022. The price target was changed from 2485.63 to 14.05.Over the last 90 days, this security got 4 buy, 22 sell, and 0 hold ratings.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $2008.66 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -23.17% during the next 3 months and, with a 90% probability hold a price between $1543.25 and $2229.03 at the end of this 3-month period.

Amazon

There are mixed signals in the stock today. 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 $2194.82 and $2698.97. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, May 11, 2022, and so far it has risen 2.11%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Amazon finds support from accumulated volume at $2142.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $97.77 between high and low, or 4.66%. For the last week, the stock has had a daily average volatility of 4.37%.

Amazon holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full Amazon forecast and analysis here.