Amazon shares close higher on Wednesday, a new AWS Region in Hong Kong to be opened in 2018

Amazon.com Inc (AMZN) was reported to be planning the establishment of an Amazon Web Services Region in Hong Kong in 2018. It would be the 8th AWS Region in the Asia Pacific area. At present, the AWS infrastructure includes 16 Regions worldwide.

Amazon shares closed higher for a third time in the past six trading sessions on Wednesday. The stock went up 0.97% ($9.64) to $1,002.23, with the intraday high and the intraday low being at $1,002.72 and $992.65 respectively. 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 0.77% 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 rose 10.95%.

The AWS cloud infrastructure consists of broad geographic areas where data centers are located, known as Regions, and groupings of correlated data centers located in a Region, known as Availability Zones.

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 9.51% surge compared to the closing price of $1,002.23 on June 21st.

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 – $1,003.15
R2 – $1,004.08
R3 (Range Resistance – Sell) – $1,005.00
R4 (Long Breakout) – $1,007.77
R5 (Breakout Target 1) – $1,011.00
R6 (Breakout Target 2) – $1,012.40

S1 – $1,001.31
S2 – $1,000.38
S3 (Range Support – Buy) – $999.46
S4 (Short Breakout) – $996.69
S5 (Breakout Target 1) – $993.46
S6 (Breakout Target 2) – $992.06

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