Amazon shares gain for a second session in a row on Monday, company plays a major role in Wi-Fi speaker market, Strategy Analytics says

A report by Strategy Analytics showed that sales of Wi-Fi-based wireless speakers had grown 62% in 2016, while Amazon.com Inc (AMZN) had contributed to 77% of total shipments.

Amazon shares closed higher for a second consecutive trading session on Monday. The stock went up 0.76% ($7.46) to $995.17, after touching an intraday high of $1,003.66, or a price level not seen since June 9th ($1,012.99). The stock registered an all-time high of $1,016.50 on June 6th. In the week ended on June 18th the shares of the e-commerce giant added 0.96% to their market value compared to a week ago, which marked the third gain in the past four weeks, but yet, the smallest one since the week ended on April 9th. The stock has neutralized earlier losses and is now up 0.06% 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%.

Approximately 5 million Echo speakers had been sold by the e-commerce company in 2016, the report revealed. At the same time, shipments of Amazons Sonos speakers pointed to some 4 million units.

According to Strategy Analytics, HomePod speakers by Amazons rival, Apple Inc, are expected to compete better in the Sonos category, as both models bet more on sound & music performance rather than voice assistance.

According to CNN Money, the 38 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,097.50, with a high estimate of $1,300.00 and a low estimate of $950.00. The median estimate is a 10.28% surge compared to the closing price of $995.17 on June 19th.

The same media also reported that 33 out of 44 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 7 – 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 – $996.43
R2 – $997.69
R3 (Range Resistance – Sell) – $998.95
R4 (Long Breakout) – $1,002.74
R5 (Breakout Target 1) – $1,007.16
R6 (Breakout Target 2) – $1,009.00

S1 – $993.91
S2 – $992.65
S3 (Range Support – Buy) – $991.39
S4 (Short Breakout) – $987.60
S5 (Breakout Target 1) – $983.18
S6 (Breakout Target 2) – $981.34

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

Central Pivot Point – $977.49
R1 – $1,009.97
R2 – $1,032.24
R3 – $1,064.72
R4 – $1,097.21

S1 – $955.22
S2 – $922.74
S3 – $900.47
S4 – $878.21