Red day on Friday for AmazonStockInvest.us, 2 months ago
The Amazon stock price fell by -3.01% on the last day (Friday, 23rd Sep 2022) from $117.31 to $113.78. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.56% from a day low at $112.06 to a day high of $116.05. The price has fallen in 7 of the last 10 days and is down by -14.62% for this period. Volume has increased on the last day by 10 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, 65 million shares were bought and sold for approximately $7.39 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, 13 sell, and 0 hold ratings.
Given the current short-term trend, the stock is expected to rise 13.24% during the next 3 months and, with a 90% probability hold a price between $128.84 and $172.60 at the end of this 3-month period.
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $120.90 and $132.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, August 16, 2022, and so far it has fallen -21.41%. Further fall is indicated until a new bottom pivot has been found. 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 $113.55 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 $3.99 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 3.06%.
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.