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The Amazon stock price fell by -0.24% on the last day (Friday, 2nd Sep 2022) from $127.82 to $127.51. During the last trading day the stock fluctuated 3.95% from a day low at $126.39 to a day high of $131.38. The price has fallen in 6 of the last 10 days and is down by -7.76% for this period. Volume has increased on the last day by 893 thousand 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, 57 million shares were bought and sold for approximately $7.31 billion.
Deutsche Bank is very positive about AMZN and gave it a "$155.00 - $175.00" rating on Jul 29, 2022. The price target was changed from 155 to 175.Over the last 90 days, this security got 17 buy, 18 sell, and 0 hold ratings.
The stock has broken the wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $127.80. A reaction back to this level may hold a second chance to get out before further falls.
A buy signal was issued from a pivot bottom point on Wednesday, August 31, 2022, and so far it has risen 0.58%. 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. 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 $129.81 and $132.35. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month 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 $124.79 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 $4.99 between high and low, or 3.95%. For the last week, the stock has had daily average volatility of 3.42%.
Amazon is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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.