Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Amazon stock price is currently trading at $138.01 with a spike of 2.18% in the last trading session with a market capitalization of $1.416 Trillion.</a> </li> 
 <li> <span>2</span> <a>Amazon’s deal with Shopify is creating a buzz in the market.</a> </li> 
 <li> <span>3</span> <a>Amazon and Shopify deal looks beneficial for both AMZN and SHOP stock.&nbsp;</a> </li> 
</ul> 
<p>Amazon stock price boosted after the Shopify news was out. Amazon signed a deal with Shopify in which Shopify provides a “Buy with Prime” program to merchants. On Thursday’s trading session, AMZN stock price opened at $135.06 then took a high of $138.79 and closed at $138.01 with a low of $135.00. The overall change was +2.18% with a phenomenal volume of 58.781 Million.&nbsp;</p> 
<p>Moreover, the volume also gets a surge and breaks the volume MA line. The previous session volume is high as compared to the last 10 days average volume of 42.114 Million. Amazon has a market capitalization of 1.416 Trillion. It has a price-to-earnings ratio of 107.41 and a basic EPS of 1.27.</p> 
<p>Amazon stock has a consistently remarkable growth from the previous three quarters. In the previous three quarters, the net income and profit margin of the company increased drastically. AMZN’s Q2 23 earnings company gave a revenue of $134.38 Billion with a net income of 6.75 Billion and a profit margin of 5.02%.</p> 
<h2 class="wp-block-heading" id="strong-amazon-stock-navigating-the-path-to-150-strong"><strong>Amazon Stock: Navigating the Path to $150&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/AjQ6Gav4hkt5kxtPWsl6TqSs-8eyfbhLEK0NnzzSUYI5Ee-PsMf42njSW7JFbfzDWQXGDkbGfvQI37K1eVXC-ekGSStQpcxxW9vTBBj0n5npovyiee-AaNp4Dhhqio2o6a1e24GJ6CjeUhCqvyG26w" alt="Amazon Stock Forecast: AMZN Soars After Shopify Deal, What Next?"> 
  <figcaption class="wp-element-caption">
    Source: Amazon.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>Amazon stock is showing strong bullish momentum as its stock price has trended above the 50-day and 200-day daily moving averages. AMZN stock price could start a new uptrend and move higher if the buyer’s support continues. Furthermore, the bullish signal on the daily chart confirms the positive outlook.</p> 
<p>As per the technical indicators, AMZN stock is showing strong bullish signals. MACD, RSI, and super trend indicators support the stock. The MACD line has been trading above the zero line, signaling bullish momentum.&nbsp;</p> 
<p>The RSI is above 50, showing positive momentum. The super trend line is beneath the price, ensuring an upward trend. These indicators imply that Amazon stock is in a powerful bullish momentum and may keep rising upward.</p> 
<h2 class="wp-block-heading" id="strong-amzn-stock-near-making-new-high-of-150-strong"><strong>AMZN Stock Near Making New High of $150</strong></h2> 
<p>On the 4-hour timeframe, AMZN stock is on the verge of a crucial breakout, which registers when the price trades above $150. However, buyers are accumulating the stock by defending it from the support of 50 EMA.</p> 
<p>The RSI curve floating near 63 shows a strong momentum. RSI indicates buyers’ presence in the last trading sessions.</p> 
<p>The MACD indicator shows a bullish momentum and maintains green bars on the histogram, suggesting the bullishness of the stock.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Amazon (NASDAQ: AMZN) <a href="https://www.thecoinrepublic.com/2023/08/31/tsla-stock-prediction-will-elon-mode-issue-affect-tesla-stock/" target="_blank" rel="noopener noreferrer nofollow">stock price’s</a> technical analysis is showing strong bullish momentum and is likely to break out above the resistance level of $143.44 to achieve the target of $150. The MACD, RSI, and super trend indicators are all indicating positive momentum and bullishness.&nbsp;</p> 
<p>Accordingly, Amazon stock is in a favorable position to continue its upward trend and reach new highs. Nevertheless, investors should also be aware of the potential risks and uncertainties that may affect the stock price.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> The closest support levels for the Amazon stock price are $130.00 and $125.20.</li> 
 <li><strong>Resistance Levels:</strong> The closest resistance levels for the AMZN stock price are $143.50 and $150.00.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

Amazon Stock Forecast: AMZN Soars After Shopify Deal, What Next?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 1, 2023

The Colorado Department of Motor Vehicles Now Accepts Cryptocurrency

Shiba Inu Devs Re-open ETH Bridge to Shibarium Chain, while Bitcoin Spark ICO skyrockets

Ethereum (ETH) Price Analysis for September 1

Pink Moon Studios Unleashes Battle-Mode for "KMON: World of Kogaea" And Celebrates With a “Share ...

Ripple CTO Puzzles XRP Community With New Enigmatic Pop Culture Tweet

Swiss Crypto Bank SEBA Breaks Barriers in Hong Kong – Is the US Falling Behind?

Join our free newsletter for daily crypto updates!