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Will The Amazon Sell-Off End At $2,950?

Benzinga2021-05-12

Since April 30, shares ofAmazon.com, Inc.(NASDAQ:AMZN) have been in a steep sell-off. The price has dropped from $3,520 to 3,220.

If shares continue to move lower, there’s a good chance they find support around $2,950. This level was support in September, early November and early March.

At support levels, there is more demand for the stock than there is supply. That’s why sell-offs end when they reach them. Sometimes stocks rally off of these levels. This happens when some of the buyers who help to create the support become impatient and decide to pay higher prices.

This is what happened with Amazon the last three times shares fell to $2,950. There’s a chance it happens again.

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评论25

  • Venture118f
    ·2021-05-13
    Still way over value …. Market flash with cash !!
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    • WangZhai
      Yes, way over value
      2021-05-13
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    • Venture118f
      Great…. is time for bubble burst in all front :)
      2021-05-13
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  • ArchieM
    ·2021-05-13
    It better.
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  • melonlike
    ·2021-05-13
    No
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  • Apipu
    ·2021-05-13
    That will be a sweet deal
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  • Tendollar
    ·2021-05-13
    Have been waiting at the sideline for quite long time....hope to get around $3000 level
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  • GCL08
    ·2021-05-12
    If it drops below 3k.....I am a buyer 
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    • Lynny
      Good entry point.
      2021-05-12
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    • Mando88
      [强] [强]
      2021-05-13
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  • SimonGoh
    ·2021-05-12
    ...
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  • Alysen
    ·2021-05-12
    No
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  • Motivator
    ·2021-05-12
    Hopefully 
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    • Ichua
      Agrred
      2021-05-12
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  • Norico
    ·2021-05-12
    Good post. 
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    • Norico
      Ok to buy
      2021-05-12
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    • vanntay
      Good
      2021-05-12
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  • Alvin1975
    ·2021-05-12
    Like and comment pls
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    • ping23
      ok
      2021-05-12
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    • vanntay
      Liked
      2021-05-12
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    • AntonyGeorge
      liked
      2021-05-12
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  • Chloeyeo
    ·2021-05-12
    That would be great
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    • Jovin82
      I think so too
      2021-05-12
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    • Chloeyeo
      What is your entry price?
      2021-05-12
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  • Deonc
    ·2021-05-12
    Thanks for the info
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  • ricebowl
    ·2021-05-12
    Comment pls
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  • JKKT
    ·2021-05-12
    Yeah Amazon below $3k is about right
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  • BuzzyBee3
    ·2021-05-12
    I’m guessing it will drop and then rise back up~ please like n comment
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    • tearach
      comment pls
      2021-05-13
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    • BuzzyBee3
      Thanks!
      2021-05-13
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  • Keychain
    ·2021-05-12
    Omg
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  • twz
    ·2021-05-12
    Hmm
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  • twz
    ·2021-05-12
    😐
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  • DJBoy
    ·2021-05-12
    Overpriced 
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    • GabbieTeo
      No newS of stock split....
      2021-05-12
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