Amazon stock price ended on $3 599.92 on Thursday after losing 0.84%

StockInvest.us, 2 years ago

Amazon

The Amazon stock price fell by -0.84% on the last day (Thursday, 29th Jul 2021) from $3 630.32 to $3 599.92. During the day the stock fluctuated 1.62% from a day low at $3 580.01 to a day high of $3 637.95. The price has risen in 6 of the last 10 days, but is still down by -0.86% for this period. Volume has increased on the last day by 1 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, 4 million shares were bought and sold for approximately $15.62 billion.

On July 26, 2021 "Credit Suisse Group" gave "$4,000.00 - $3,675.36" rating for AMZN. The price target was set to $3,693.94+1.0%.

The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3 594.34 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 15.18% during the next 3 months and, with a 90% probability hold a price between $4 139.96 and $4 439.38 at the end of this 3-month period.

Amazon

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 $3 633.76. On a fall, the stock will find some support from the long-term average at approximately $3 545.98. 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. A buy signal was issued from a pivot bottom point on Monday, July 19, 2021, and so far it has risen 1.42%. 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. Furthermore, there is currently a sell signal from the 3 months 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 $3 467.42 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 $57.94 (1.62%) between high and low. For the last week, the stock has had a daily average volatility of 1.87%.

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.

Check full Amazon forecast and analysis here.