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

Benzinga Earnings2021-05-12

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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