Will Amazon stock rise or pullback upcoming week?

Amazon's stock is expected to rise in the upcoming week. Here's the analysis to support this conclusion:

1. Short-term Trend: The stock has shown a rising trend in the last 10 days, with price increases in 7 of those days. The recent trading volume of 39.86 million shares indicates active participation, which is a positive sign for price movement.

2. Technical Indicators:

   • The 5-day moving average is $197.61, and the 10-day moving average is $194.05, suggesting a bullish trend as the short-term average is above the long-term average.
   • The Resistance Level is at $200.55, and the Support Level is at $198.17, indicating a narrow range that could lead to a breakout in either direction.
   • The Relative Strength Index (RSI) is at 69, which is close to the overbought territory but still within a neutral range, suggesting that the stock is not excessively overbought.
   • The Moving Average Convergence Divergence (MACD) is at 2.61, and the KDJ indicator is at 99.46, both of which are pointing towards an upward momentum.
   • The Bollinger Bands are at $189.57, which is below the current trading price, indicating that the stock is trading in the upper part of its recent range.

3. Market Sentiment:
   • The Fear & Greed Index is at 39, indicating fear, which could suggest that the stock has potential for a rebound as it may be undervalued by some investors.
   • The stock has been trading 2.60% below the forecast price, which could be seen as a buying opportunity for investors.
4. Long-term Forecasts:
   • Wall Street analysts have set an average 12-month price target of $221.70, with a high forecast of $245.00, indicating a potential upside from the current price.
   • A long-term forecast suggests that Amazon's stock could rise significantly, with predictions of reaching $240.82 by the end of next year and even higher values in subsequent years.
5. Conclusion: Given the current technical indicators and market sentiment, along with the positive long-term forecasts, it is reasonable to expect that Amazon's stock will continue to rise in the upcoming week. However, investors should monitor the stock's performance against the resistance level and the MACD and KDJ indicators, as these can provide early warning signs of a potential pullback.