In this post, we are going to look at Amazon stock price prediction for 2021. We will looking at monthly, quarterly, half-yearly & yearly price charts of Amazon.com Inc (AMZN). Do your own due diligence before trading or investing in Amazon.com, Inc. (AMZN). Our research is for knowledge & information purpose.
Should you buy or sell AMZN?
AMZN stock is currently trading in a sideways trend as per our analysis on monthly & weekly price charts of Amazon.com, Inc. So it should be a range trading strategy for now if you are trading it. If you are an investor, it’s probably a wait period until we get a clear trend.
Amazon Stock Price Prediction-Monthly chart analysis
On the monthly candlestick charts, AMZN is currently forming inside candles between a range of 3552.25 & 2871. I don’t get much insights as per monthly time frame charts shown below. Let’s look at the weekly charts for a better understanding of price levels of AMZN.
Let’s look at the weekly charts for a better understanding of price levels of AMZN.
Weekly chart analysis of Amazon.com Inc (AMZN)
In the weekly candlestick charts of AMZN, we can clearly see the sideways trend. I have drawn the top and bottom ranges for range bound trading. The top and bottom trendlines on the weekly charts shows the narrow range. Break of these trendlines, could potentially trigger a bigger trend in upcoming days. So it’s best to wait and watch.
Daily chart analysis
As per the daily charts, we are witnessing lower highs, but to confirm a downtrend, we need to see lower lows along with lower highs. So its not in a downtrend for now.
Bottom price range between 2871-2998.50, could be a potential buying area for AMZN. And the upper price range between 3409.80-3552.25 could be a potential selling or resistance levels. But as it’s in the uptrend, shorting AMZN could be a more riskier trade.
AMZN stock is currently in a sideways trend. Its better to wait and watch AMZN stock for a clear direction of trend. If you are already in a buying position on AMZN, keep stop losses slightly below the support levels of the range i.e. 2871-2998.50 and hold it.