Amazon shares hit a fresh all-time high on Wednesday, company introduces curbside pickup at Whole Foods stores

August 9, 2018 7:44 am

According to an announcement by Inc (AMZN) on Wednesday, it is introducing curbside pickup at Whole Foods stores, as the company seeks to attract more grocery shoppers in the United States.

Such a service is already available in Virginia Beach, Virginia, as well as in Sacramento, California, with Amazon planning to expand it to other areas by the end of this year.

Amazon shares closed higher for a third consecutive trading session on NASDAQ on Wednesday. The stock went up 1.29% ($24.04) to $1,886.52, after touching an intraday high at $1,891.51 and also a fresh all-time high.

Shares of Inc have surged 61.31% so far in 2018 compared with a 6.89% 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.

By using Amazon’s Prime Now application, clients are able to place an order and once they arrive at a particular store, they can have groceries loaded into their vehicle, the e-commerce giant explained.

Clients, who take advantage of the new pickup service, will also have designated parking spots at Whole Foods stores.

According to Amazon, a pickup within 1 hour will be free of charge in case clients’ order is valued $35 or more. At the same time, a pickup within 30 minutes will cost $4.99.

Currently, there are 467 Whole Foods stores across the United States, with the company having approximately 1% share of the fragmented grocery market in the country.

According to CNN Money, the 42 analysts, offering 12-month forecasts regarding Inc’s stock price, have a median target of $2,100.00, with a high estimate of $2,300.00 and a low estimate of $1,800.00. The median estimate represents an 11.32% upside compared to the closing price of $1,886.52 on August 8th.

The same media also reported that 41 out of 48 surveyed investment analysts had rated Inc’s stock as “Buy”, while 2 – 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 – $1,889.86
R2 – $1,893.20
R3 (Range Resistance – Sell) – $1,896.55
R4 (Long Breakout) – $1,906.57
R5 (Breakout Target 1) – $1,918.28
R6 (Breakout Target 2) – $1,923.60

S1 – $1,883.18
S2 – $1,879.84
S3 (Range Support – Buy) – $1,876.49
S4 (Short Breakout) – $1,866.47
S5 (Breakout Target 1) – $1,854.76
S6 (Breakout Target 2) – $1,849.44

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

Central Pivot Point – $1,801.20
R1 – $1,863.09
R2 – $1,902.88
R3 – $1,964.77
R4 – $2,026.65

S1 – $1,761.41
S2 – $1,699.52
S3 – $1,659.73
S4 – $1,619.93

Where to Trade

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