Green day on Friday for Amazon stock after gaining 2.55%

The Amazon stock price gained 2.55% on the last trading day (Friday, 18th Mar 2022), rising from $3144.78 to $3225.01. , and has now gained 5 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 3.58% from a day low at $3120.22 to a day high of $3231.88. The price has risen in 6 of the last 10 days and is up by 10.72% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $16.38 billion.

On Feb 04, 2022 "MKM Partners" gave "$4,000.00 - $4,100.00" rating for AMZN. The price target was set to $3,152.79+13.5%.

The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $3030.97, a level that may pose a second chance to hit a runner. According to fan-theory $3504.26 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Mostly positive signals in the chart today. The Amazon stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $3009.01 and $3016.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 08, 2022, and so far it has risen 18.55%. 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 $3152.79 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 $111.66 between high and low, or 3.58%. For the last week, the stock has had a daily average volatility of 3.98%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.