fbpx

Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Amazon shares rebound on Thursday, company seen as potential partner by Express Scripts head

According to Tim Wentworth, the Chief Executive Officer of Express Scripts Holding, Amazon.com Inc (AMZN) is seen as a potential partner rather than an industry rival.

Amazon shares closed higher for the fifth time in the past seven trading sessions on Thursday. The stock went up 1.33% ($15.48) to $1,176.75, with the intraday high and the intraday low being at $1,178.57 and $1,160.08 respectively.

In the week ended on November 26th the shares of the e-commerce giant added 4.97% to their market value compared to a week ago, which marked a fifth consecutive period of gains.

The stock appreciated 6.47% in November, which marked a second straight month of gains.

For the entire past year, the shares of the NASDAQ-listed company rose 10.95%. The stock has gained another 56.93% so far in 2017.

“What (Amazon) will see is the magic isnt in lower net prices to consumers”, Tim Wentworth said during the Forbes Healthcare Summit conference in New York yesterday, cited by Reuters. “Its getting the right drug to consumers and helping them navigate the system.”

Express Scripts, the largest pharmacy benefit manager in the United States, along with drug distributors have recently been pressured by speculation over Amazons entry in the prescription drug business.

Reuters reminded that in October Express Scripts had stated it would “stand well” against a potential competition from Amazon in the pharmacy benefit management industry. In addition, Express Scripts said that, on the other hand, it would be a “natural collaborator” for Amazon.com Inc.

According to CNN Money, the 41 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,250.00, with a high estimate of $1,430.00 and a low estimate of $980.00. The median estimate is a 6.22% surge compared to the closing price of $1,176.75 on November 30th.

The same media also reported that 37 out of 46 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 4 – 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 – $1,178.44
R2 – $1,180.14
R3 (Range Resistance – Sell) – $1,181.83
R4 (Long Breakout) – $1,186.92
R5 (Breakout Target 1) – $1,192.86
R6 (Breakout Target 2) – $1,195.51

S1 – $1,175.06
S2 – $1,173.36
S3 (Range Support – Buy) – $1,171.67
S4 (Short Breakout) – $1,166.58
S5 (Breakout Target 1) – $1,160.64
S6 (Breakout Target 2) – $1,157.99

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

Central Pivot Point – $1,165.13
R1 – $1,207.71
R2 – $1,229.42
R3 – $1,272.00
R4 – $1,314.58

S1 – $1,143.42
S2 – $1,100.84
S3 – $1,079.13
S4 – $1,057.42

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