Tue 31'st Jul 2018
Amazon.com Stock Analysis
Technical stock analysis for Tue 31'st Jul 2018
|Shorts||1.03% ( 2018-07-13 )|
|Cash||55 296.0 mill|
Amazon.com fell by -0.10% in the last day from $1 779.22 to $1 777.44 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days and is down by -3.61% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -0.83 million shares and in total 5.71 million shares bought and sold for approximately $10 155.40 million.
Amazon.com lies in the lower part of a strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $1 759.95 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.56% during the next 3 months and, with 90% probability hold a price between $2 051.40 and $2 199.68 at the end of this period.
Amazon.com holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $1 810.97. On a fall, the stock will find some support from the long-term average at approximately $1 754.05. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday July 25, 2018, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
Support & Resistance
Amazon.com finds support from accumulated volume at $1 695.75.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $62.51 (3.59%) between high and low. For the last week, the stock has had a daily average volatility of 3.15%.
Our recommended stoploss: $1.00 (-5.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 4 days ago.)
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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 this stock to perform well in the short-term.Click for Top 5 Buy Candidates