Green day on Friday for AmazonStockInvest.us, 1 month ago
The Amazon stock price gained 0.38% on the last trading day (Friday, 20th Aug 2021), rising from $3 187.75 to $3 199.95. During the day the stock fluctuated 1.01% from a day low at $3 175.76 to a day high of $3 207.81. The price has fallen in 7 of the last 10 days and is down by -4.33% for this period. Volume fell on the last day by -422 thousand shares and in total, 3 million shares were bought and sold for approximately $10.65 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On July 30, 2021 "Jefferies Financial Group" gave "$4,200.00" rating for AMZN. The price target was changed from $3,354.98 to 6.8%.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3 189.46 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 2.93% during the next 3 months and, with a 90% probability hold a price between $3 282.91 and $3 895.36 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Thursday, August 19, 2021, and so far it has risen 0.38%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $3 246.76 and $3 484.53. A break-up above any of these levels will issue buy signals.
Amazon finds support from accumulated volume at $3 198.01 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 $32.05 between high and low, or 1.01%. For the last week, the stock has had a daily average volatility of 1.75%.
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.