Amazon shares close lower on Wednesday, early Prime Day access granted to Alexa shoppers

As reported by Seeking Alpha, early Prime Day access has been granted by Amazon.com Inc (AMZN) to clients shopping via Echo devices with the help of the Alexa voice assistant. Although Prime Day officially begins at 9 PM on July 10th, Echo owners were enabled to take advantage of special offers on July 5th.

Amazon shares closed higher for the first time in the past four trading sessions on Wednesday. It has also been the sharpest daily gain since June 16th. The stock went up 1.86% ($17.74) to $971.40, after touching an intraday high at $975.00, or a price level not seen since June 30th ($983.47). In the week ended on July 2nd the shares of the e-commerce giant lost 3.56% of their market value compared to a week ago, which marked the first drop in the past three weeks and also the worst performance since the week ended on December 4th 2016. However, the stock has neutralized earlier losses and is now up 0.35% so far during the current month, following a 2.68% slump in June. The latter has been the first monthly retreat since last December. For the entire past year, Amazon shares rose 10.95%.

A survey by DealNews.com showed that more than 50% of respondents were not willing to shop with the help of Alexa, as it was possible that the voice assistant could not get the order properly.

The Alexa voice assistant reportedly has more than 15 000 skills at present. In comparison, Google’s Home has 378 skills, while Microsoft’s Cortana – 65.

According to CNN Money, the 36 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,100.00, with a high estimate of $1,300.00 and a low estimate of $961.00. The median estimate is a 13.24% surge compared to the closing price of $971.40 on July 5th.

The same media also reported that 32 out of 42 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 6 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Amazon stock are presented as follows:

R1 – $973.21
R2 – $975.02
R3 (Range Resistance – Sell) – $976.83
R4 (Long Breakout) – $982.26
R5 (Breakout Target 1) – $988.61
R6 (Breakout Target 2) – $991.48

S1 – $969.59
S2 – $967.78
S3 (Range Support – Buy) – $965.97
S4 (Short Breakout) – $960.54
S5 (Breakout Target 1) – $954.19
S6 (Breakout Target 2) – $951.32

By using the traditional method of calculation, the weekly levels of importance for Amazon.com Inc (AMZN) are presented as follows:

Central Pivot Point – $981.02
R1 – $996.78
R2 – $1,025.57
R3 – $1,041.33
R4 – $1,057.10

S1 – $952.23
S2 – $936.47
S3 – $907.68
S4 – $878.90