Stronger technical forecast for Amazon stock price after Thursday trading.

The Amazon stock price gained 3.99% on the last trading day (Thursday, 16th Mar 2023), rising from $96.20 to $100.04. It has now gained 4 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 last trading day the stock fluctuated 5.63% from a day low at $95.61 to a day high of $100.99. The price has risen in 6 of the last 10 days and is up by 8.59% 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, 15 million more shares were traded than the day before. In total, 85 million shares were bought and sold for approximately $8.48 billion.

Tigress Financial is very positive about AMZN and gave it a "" rating on Feb 09, 2023. The price target was set to 192.Over the last 90 days, this security got 17 buy, 9 sell, and 0 hold ratings.

The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 9.83% during the next 3 months and, with a 90% probability hold a price between $100.44 and $129.72 at the end of this 3-month period.

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 $94.35 and $97.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 10, 2023, and so far it has risen 10.26%. 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 $98.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $5.38 (5.63%) between high and low. For the last week, the stock has had daily average volatility of 4.48%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Amazon stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.