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$2302.93 (3.66%)

Volume: 4.727M

Closed: May 27, 2022

Hollow Logo Score: -1.212

Amazon Stock Forecast

BUY SELL NASDAQ:AMZN
$2302.93 (3.66%)

Volume: 4.727M

Closed: May 27, 2022

Score Hollow Logo -1.212
Which way will AMZN go? Request
Fri, May 27, 2022 Sell Candidate
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 58 and the stock is currently not being overbought or oversold

Green day on Friday for Amazon stock after gaining 3.66%
(Updated on May 27, 2022)


Sell candidate since 2022-04-29 Loss -7.35% PDF

The Amazon stock price gained 3.66% on the last trading day (Friday, 27th May 2022), rising from $2221.55 to $2302.93. , and 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 day the stock fluctuated 2.27% from a day low at $2252.56 to a day high of $2303.74. The price has risen in 6 of the last 10 days and is up by 1.85% 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, 83 thousand more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $10.89 billion.

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 -28.60% during the next 3 months and, with a 90% probability hold a price between $1449.62 and $1936.20 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.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 24, 2022, and so far it has risen 10.61%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Amazon stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $2545.90. On a fall, the stock will find some support from the short-term average at $2170.19. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss

Amazon finds support from accumulated volume at $2295.45 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 $51.18 between high and low, or 2.27%. For the last week, the stock has had a daily average volatility of 4.05%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations For The Upcoming Trading Day Of Tuesday 31st

For the upcoming trading day on Tuesday 31st we expect Amazon.com, Inc. to open at $2286.41, and during day (based on 14 day Average True Range), to move between $2183.44 and $2422.42, which gives a possible trading interval of +/-$119.49 (+/-5.19%) up or down from last closing price. If Amazon.com, Inc. takes out the full calculated possible swing range there will be an estimated 10.38% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2295.45 (0.32%) than the resistance at $2328.14 (1.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Amazon.com, Inc. stock A Buy?

Amazon holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.212

Sell Candidate Unchanged

Predicted Opening Price for Amazon.com, Inc. of Tuesday, May 31, 2022

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price May 31, 2022 Current price
$2286.41 $2302.93 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 2337.59 1.51 %
2318.04 0.66 %
2305.96 0.13 %
Current price: 2302.93
Support 2266.86 -1.57 %
2254.78 -2.09 %
2235.23 -2.94 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 2490.00 8.12 %
2485.63 7.93 %
2328.14 1.09 %
Current price 2302.93
Support 2295.45 -0.32%
2175.78 -5.52%
2138.61 -7.14%

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About Amazon.com, Inc.

Amazon Amazon.com, Inc. engages in the retail sale of consumer products in North America and internationally. It operates through the North America, International, and Amazon Web Services (AWS) segments. The company sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazo... Read more

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