Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Amazon.com Inc (AMZN) said on Wednesday that it had opened its first Spanish pop-up store in an old building located in one of Madrid’s busiest shopping districts, Calle Princesa.

Amazon shares closed higher for the second time in the past ten trading sessions on NASDAQ on Wednesday. It has also been the sharpest daily surge since November 7th. The stock went up 1.42% ($21.27) to $1,516.73, after touching an intraday high at $1,549.00, or a price level not seen since November 19th ($1,581.19).

Shares of Amazon.com Inc have surged 29.69% so far in 2018 compared with a 0.89% drop for the benchmark index, S&P 500 (SPX).

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

Styled as a house, the “Casa Amazon” is to offer items for sale ranging from Amazons Echo-branded smart speakers to various products manufactured by companies such as HP, LOreal, Melia, Motorola, Pepsi, Philips, Polar among others.

According to a spokesperson for Amazon, the e-commerce giant intends to open similar stores in Britain, Germany and Italy as well.

In September, Amazon opened a new outlet in New York where customers are enabled to purchase items from the companys website via a smart phone app.

According to CNN Money, the 45 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $2,133.24, with a high estimate of $2,943.30 and a low estimate of $1,900.00. The median estimate represents a 40.65% upside compared to the closing price of $1,516.73 on November 21st.

The same media also reported that 41 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 1 – as “Hold”.

Weekly Pivot Levels

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

Central Pivot Point – $1,616.16
R1 – $1,685.80
R2 – $1,778.20
R3 – $1,847.84
R4 – $1,917.49

S1 – $1,523.76
S2 – $1,454.12
S3 – $1,361.72
S4 – $1,269.33

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Grain futures mixed, wheat loses ground amid record-high grain outputGrain futures mixed, wheat loses ground amid record-high grain output Grain futures were mixed on Monday, with wheat losing ground as a record-high output is expected. Meanwhile, corn and soybeans advanced.Wheat futures for settlement in March traded at $6.5013 per bushel by 15:39 GMT, losing 0.2% on daily […]
  • Euro Area posts EUR 6.7 billion trade surplus in AugustEuro Area posts EUR 6.7 billion trade surplus in August The Euro Area registered a trade surplus of EUR 6.7 billion in August, swinging from a EUR 54.4 billion deficit in the same month of 2022, data by Eurostat showed on Monday.Total exports decreased at an annual rate of 3.9% to EUR 221.6 […]
  • Forex Market: USD/CAD daily trading outlookForex Market: USD/CAD daily trading outlook Yesterday’s trade saw USD/CAD within the range of 1.2679-1.2845. The pair closed at 1.2776, shedding 0.53% compared to Wednesdays close. It has been the 127th drop in the past 279 trading days. The daily low has been the lowest level since […]
  • US dollar advanced to higher levels versus the Swiss franc ahead of US GDPUS dollar advanced to higher levels versus the Swiss franc ahead of US GDP US dollar edged higher against the Swiss franc on Wednesday ahead of US Gross Domestic Product data, as fears of near-term stimulus reduction by FED supported the greenback.USD/CHF hit a session high at 0.9407 at 9:46 GMT, as the pair […]
  • Forex Market: USD/PLN daily forecastForex Market: USD/PLN daily forecast During yesterday’s trading session USD/PLN traded within the range of 3.0819-3.0896 and closed at 3.0850, losing 0.02% on a daily basis.At 11:18 GMT today USD/PLN was up 0.22% for the day to trade at 3.0908. The pair broke the first key […]
  • Vuzix acquires Moviynt, a SAP software solution providerVuzix acquires Moviynt, a SAP software solution provider Vuzix Corp, a supplier of Smart Glasses and Augmented Reality technology, said on Tuesday that it had acquired Moviynt, a US-based SAP Certified ERP platform software solution provider, to support handheld mobile phones and scanners used […]