Amazon (AMZN) Price Near $3,116.62; Price Base in Formation Over Past 90 Days

The Hourly View for AMZN

Last Updated November 23, 2020, 15:29 GMT

At the moment, AMZN’s price is up $25.95 (0.84%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Amazon Com Inc Daily Price Recap

3099.4 was the closing price of the day for Amazon Com Inc, resulting in today being one in which price moved down 0.57% ($17.62) from the day prior. The price move occurred on volume that was up 10.75% from the day prior, but down 23.65% from the same day the week before. Below is a daily price chart of Amazon Com Inc.


Amazon Com Inc Technical Analysis

The first thing we should note is that Amazon Com Inc is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about AMZN:

    $AMZN Yes, this stock is annoying….but just watch it. It's living in a channel and is quite easy to follow. Take advantage of it. I've been moving 100 shares in/out daily on the peaks and valleys and it's quite a fun ride. Eventually this will pop and run