Amazon shares retreat the most in seven weeks on Monday, company probed in relation with sales in Iran

Amazon.com Inc (AMZN) is reportedly being under federal investigation over a possible violation of US sanctions against Iran. The company confirmed that consumer goods had been sold to at least one individual included in the US governments list of people and organizations with ties to terrorist groups.

Amazon shares closed lower for a third consecutive trading session on Monday. It has also been the steepest daily loss since June 9th. The stock went down 3.16% ($32.26) to $987.78, after touching an intraday low at $987.02, or a price level not seen since July 11th ($983.72). In the week ended on July 30th the shares of the e-commerce giant lost 0.55% of their market value compared to a week ago, which marked the first drop in the past four weeks, but yet, the smallest one since the week ended on May 21st. The stock has risen 2.04% in July, which marked the sixth gain out of seven months, but yet, the smallest one since August 2016. For the entire past year, Amazon shares rose 10.95%.

The e-commerce giant was also reported to have sold goods valued thousands of US dollars to persons associated with Iranian government associations.

According to CNN Money, the 35 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,120.00, with a high estimate of $1,300.00 and a low estimate of $1,050.00. The median estimate is a 13.39% surge compared to the closing price of $987.78 on July 31st.

The same media also reported that 33 out of 42 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 5 – 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 – $990.72
R2 – $993.65
R3 (Range Resistance – Sell) – $996.59
R4 (Long Breakout) – $1,005.40
R5 (Breakout Target 1) – $1,015.68
R6 (Breakout Target 2) – $1,019.83

S1 – $984.84
S2 – $981.91
S3 (Range Support – Buy) – $978.97
S4 (Short Breakout) – $970.16
S5 (Breakout Target 1) – $959.88
S6 (Breakout Target 2) – $955.73

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

Central Pivot Point – $1,034.78
R1 – $1,068.57
R2 – $1,117.09
R3 – $1,150.88
R4 – $1,184.66

S1 – $986.26
S2 – $952.47
S3 – $903.95
S4 – $855.42