Amazon Stock Forecast
Amazon stock price ended at $174.63 on Friday, after losing 2.56%.
(Updated on Apr 19, 2024)
Given the current short-term trend, the stock is expected to rise 14.97% during the next 3 months and, with a 90% probability hold a price between $200.78 and $220.13 at the end of this 3-month period.
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AMZN Signals & Forecast
There are few to no technical positive signals at the moment. The Amazon stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $182.46 and $179.42. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -7.63%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Amazon stock
Amazon finds support from accumulated volume at $174.42 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $5.56 between high and low, or 3.21%. For the last week the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMZN) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Amazon.com, Inc. to open at $175.69, and during the day (based on 14 day Average True Range), to move between $170.78 and $178.48, which gives a possible trading interval of +/-$3.85 (+/-2.20%) up or down from last closing price. If Amazon.com, Inc. takes out the full calculated possible swing range there will be an estimated 4.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $174.42 (0.12%) than the resistance at $174.99 (0.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Amazon will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.81. We will update the financials statements for Amazon, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.03% in the first trading day after earnings release.
Is Amazon.com, Inc. stock A Buy?
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.
Current score: -4.009 Sell Candidate Unchanged
Predicted Opening Price for Amazon.com, Inc. of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$175.69 ( 0.607%) | $174.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMZN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 181.25 | 3.79 % | |
R2 | 179.13 | 2.57 % | ||
R1 | 177.81 | 1.82 % | ||
Current price: | 174.63 | |||
Support | S1 | 173.57 | -0.609 % | |
S2 | 172.25 | -1.36 % | ||
S3 | 170.13 | -2.58 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 178.15 | 2.02 % | |
R2 | 176.76 | 1.22 % | ||
R1 | 174.99 | 0.206 % | ||
Current price | 174.63 | |||
Support | S1 | 174.42 | -0.120% | |
S2 | 171.81 | -1.61% | ||
S3 | 159.28 | -8.79% |
FAQ
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