Weekly AMZN prediction
9/2/2024 08:42am
Amazon's stock is predicted to reach $223.06 by the end of the week, with a strong buy consensus rating from analysts.
1. **Analyst Ratings and Price Targets**: The average analyst price target for Amazon is $223.06, with a range between $176.04 and $254.73. This suggests a positive outlook from analysts.
2. **Historical Performance**: Amazon's stock has shown a bullish trend, with a 52-week high of $242.03 and a 52-week low of $88.21.
3. **Technical Indicators**: The stock's 5-Day Moving Average is $174.01, and the 10-Day Moving Average is $176.04, indicating a bullish trend. The 50-Day Moving Average is $182.51, and the 200-Day Moving Average is $172.4, suggesting a long-term upward trend.
4. **Support and Resistance Levels**: The current support level is $176.67, and the resistance level is $180.98, with a narrow trading range indicating a potential breakout if either level is broken.
5. **Market Sentiment**: The market sentiment is positive, with a neutral investor sentiment but a high level of institutional interest, indicating strong confidence in Amazon's future performance.
These factors, combined with Amazon's strong financial performance and positive market sentiment, support the bullish outlook for Amazon's stock price in the coming week.