Amazon shares hit a fresh all-time high on Monday, company to introduce Ice devices on the smart phone market

June 6, 2017 9:20 am

A new series of “Ice” devices will reportedly be introduced on the smart phone market by Inc (AMZN), with one such device being expected to come out in 2017. The company’s targeted segments will reportedly be emerging markets such as India.

Amazon shares closed higher for a second consecutive trading session on Monday. The stock went up 0.46% ($4.61) to $1,011.34, after touching an intraday high of $1,013.21 and also the highest price level ever recorded. The prior all-time high was at $1,008.48, registered on June 2nd. In the week ended on June 4th the shares of the e-commerce giant added 1.10% to their market value compared to a week ago, which marked a second consecutive period of gains. The stock has extended its advance to 1.68% so far during the current month, following a 7.53% surge in May. The latter has been a fifth consecutive monthly gain and also the steepest one since January. For the entire past year, Amazon shares gained 10.95%.

A conventional Android operating system is to be installed on the Ice devices, which will replace the stripped down version seen on the “Fire” phones.

In addition, the Ice phones will feature Android applications as well as web services by Google such as Gmail and Google Play.

As for their technical specifications, the Ice devices are to have a 5.2-inch to 5.4-inch display, a 13-mega pixel rear camera, 16GBs of storage capacity and 2GBs of RAM.

According to CNN Money, the 37 analysts, offering 12-month forecasts regarding Inc’s stock price, have a median target of $1,095.00, with a high estimate of $1,250.00 and a low estimate of $877.00. The median estimate is an 8.27% surge compared to the closing price of $1,011.34 on June 5th.

The same media also reported that 33 out of 44 surveyed investment analysts had rated Inc’s stock as “Buy”, while 7 – as “Hold”.

Daily and Weekly Pivot Levels

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

R1 – $1,012.23
R2 – $1,013.12
R3 (Range Resistance – Sell) – $1,014.01
R4 (Long Breakout) – $1,016.68
R5 (Breakout Target 1) – $1,019.79
R6 (Breakout Target 2) – $1,021.12

S1 – $1,010.45
S2 – $1,009.56
S3 (Range Support – Buy) – $1,008.67
S4 (Short Breakout) – $1,006.01
S5 (Breakout Target 1) – $1,002.89
S6 (Breakout Target 2) – $1,001.56

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

Central Pivot Point – $999.12
R1 – $1,016.09
R2 – $1,025.44
R3 – $1,042.41
R4 – $1,059.37

S1 – $989.77
S2 – $972.80
S3 – $963.45
S4 – $954.09

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