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Over 100 million products were sold globally during Amazon.com Incs Prime Day event, regardless of technical glitches on Amazons mobile app and websites that disrupted order placement by customers, the company announced on Wednesday. Accessible only to members of Amazons Prime subscription service in 17 countries, this years Prime Day event began on July 16th and lasted 36 hours.

Amazon shares closed lower for the first time in the past ten trading sessions on NASDAQ on Wednesday. The stock inched down 0.05% ($1.01) to $1,842.92, after touching an intraday high at $1,858.88 and also a fresh all-time high.

Shares of Amazon.com Inc have surged 57.59% so far in 2018 compared with a 5.31% gain for the underlying index, S&P 500 (SPX).

In 2017, Amazon’s stock soared 55.96%, thus, it again outperformed the S&P 500, which registered a 19.42% return.

According to RBC Capital Markets analyst Mark Mahaney, the technical issues were present for at least two hours and likely intensified due to excessive demand and traffic volume.

The analyst also said that the Prime Day event probably generated between $1.5 billion and $2 billion in revenue for Amazon, while the gross merchandise value likely exceeded $3.5 billion.

According to Reuters, the Echo Dot speaker and the Fire TV Stick with Alexa Voice Remote were the best-selling items. However, Amazon did not disclose total sales figures related to the event.

According to CNN Money, the 42 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,887.50, with a high estimate of $2,200.00 and a low estimate of $1,700.00. The median estimate represents a 2.42% upside compared to the closing price of $1,842.92 on July 18th.

The same media also reported that 40 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 2 – 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 – $1,845.45
R2 – $1,847.98
R3 (Range Resistance – Sell) – $1,850.51
R4 (Long Breakout) – $1,858.11
R5 (Breakout Target 1) – $1,866.97
R6 (Breakout Target 2) – $1,870.71

S1 – $1,840.39
S2 – $1,837.86
S3 (Range Support – Buy) – $1,835.33
S4 (Short Breakout) – $1,827.73
S5 (Breakout Target 1) – $1,818.87
S6 (Breakout Target 2) – $1,815.13

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

Central Pivot Point – $1,781.52
R1 – $1,846.81
R2 – $1,880.59
R3 – $1,945.88
R4 – $2,011.17

S1 – $1,747.74
S2 – $1,682.45
S3 – $1,648.67
S4 – $1,614.89

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