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The Amazon stock price fell by -0.388% on the last day (Thursday, 19th Jan 2023) from $95.46 to $95.09. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 0% from a day low at $95.09 to a day high of $95.09. The price has risen in 6 of the last 10 days and is up by 11.69% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -26 million shares and in total, 0 shares were bought and sold for approximately $0 .
The last rating was given by Goldman Sachs on Jan 13, 2023. The price target was changed from 165 to 145.Over the last 90 days, this security got 3 buy, 28 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -16.09% during the next 3 months and, with a 90% probability hold a price between $59.71 and $85.59 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
The Amazon stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $95.02 and $89.38. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, January 13, 2023, and so far it has fallen -3.09%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Amazon finds support from accumulated volume at $92.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.06%
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Check full Amazon forecast and analysis here.