Amazon shares fall for a fourth session in a row on Tuesday, company unveils Fire HD 10 tablet featuring hands-free Alexa

Pre-orders of the new Fire HD 10 tablet by Amazon.com Inc (AMZN) were reportedly initiated on September 19th. Priced at $149.99 the device is to offer hands-free Alexa experience.

Amazon shares closed lower for a fourth consecutive trading session on Tuesday. The stock went down 0.44% ($4.33) to $969.86, after touching an intraday low at $967.46, or a price level not seen since September 8th ($963.47). In the week ended on September 17th the shares of the e-commerce giant added 2.16% to their market value compared to a week ago, which marked the second gain in the past eight weeks. However, the stock has extended its loss to 1.10% so far during the current month, following a 0.73% decrease in August. The latter has been the second loss out of eight months, but yet, the smallest one since December 2016. For the entire past year, the shares of the NASDAQ-listed company gained 10.95%. The stock has advanced 29.34% so far in 2017.

The tablet is equipped with a 10.1-inch 1080p Full HD display and has a battery capable of enduring up to 10 hours.

The device has a quad-core processor offering twice as much RAM capacity compared to its predecessor as well as 30% higher speed. The tablet also has 32GB of internal storage.

According to CNN Money, the 38 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,150.00, with a high estimate of $1,300.00 and a low estimate of $640.00. The median estimate is an 18.57% surge compared to the closing price of $969.86 on September 19th.

The same media also reported that 35 out of 45 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 5 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

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 – $970.81
R2 – $971.77
R3 (Range Resistance – Sell) – $972.72
R4 (Long Breakout) – $975.58
R5 (Breakout Target 1) – $978.92
R6 (Breakout Target 2) – $980.29

S1 – $968.91
S2 – $967.95
S3 (Range Support – Buy) – $967.00
S4 (Short Breakout) – $964.14
S5 (Breakout Target 1) – $960.80
S6 (Breakout Target 2) – $959.43

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

Central Pivot Point – $987.00
R1 – $999.79
R2 – $1,012.78
R3 – $1,025.57
R4 – $1,038.35

S1 – $974.01
S2 – $961.22
S3 – $948.23
S4 – $935.23