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Amazon stock price ended on $2307.37 on Tuesday after gaining 4.11%

StockInvest.us, 1 month ago

Amazon

The Amazon stock price gained 4.11% on the last trading day (Tuesday, 17th May 2022), rising from $2216.21 to $2307.37. During the day the stock fluctuated 4.07% from a day low at $2225.53 to a day high of $2316.00. The price has been going up and down for this period, and there has been a -7.15% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 96 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $8.82 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 5 buy, 22 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -19.60% during the next 3 months and, with a 90% probability hold a price between $1655.16 and $2412.87 at the end of this 3-month period.

Amazon

A buy signal was issued from a pivot bottom point on Wednesday, May 11, 2022, and so far it has risen 9.49%. Further rise is indicated until a new top pivot has been found. 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. The Amazon stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $2800.06. On a fall, the stock will find some support from the short-term average at $2197.67. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Amazon finds support from accumulated volume at $2295.45 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 $90.47 between high and low, or 4.07%. For the last week, the stock has had a daily average volatility of 5.20%.

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.