Furthermore, the number of investor resolutions was a record for the company, as socially-minded investors examine the way workers are being treated. Meanwhile, this all comes when the company’s shares haven’t been performing all that well, losing over 31% year-to-date (YTD), and analysts are taking a knife to the stock for the first time in a long while.
AMZN technical levels
In May, AMZN shares lost over 5%, crossing over the 20-day Simple Moving Average in the most recent trading session. If high volumes are noted the first resistance is at $3,104.92 observed by a trend line in the weekly time frame. If the stock breaks below and reaches the cross-over point at $2,307.37, more pain could then be expected, with the next pivot point sitting at $2,286.41. Meanwhile, analysts still hold a ‘strong buy’ consensus on the shares. The average price prediction for the next 12 months is at $3,613, which is 55.70% higher than the current trading price of $2,320.28. If shareholders decide to pull the plug on the stock due to mistreatment of workers, ESG concerns, and other social issues, we could see further re-rating of the shares. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
