Amazon shares close higher on Monday, prices at Whole Foods fall following the acquisition

Following Amazons $13.7 billion acquisition of Whole Foods Market, prices on particular items at the grocer immediately decreased on Monday.

Amazon shares closed higher for the second time in the past ten trading sessions on Monday. The stock inched up 0.08% ($0.76) to $946.02, with the intraday high and the intraday low being at $953.00 and $942.25 respectively. In the week ended on August 27th the shares of the e-commerce giant lost 1.38% of their market value compared to a week ago, which marked a fifth consecutive period of decrease. The stock has trimmed its loss to 4.23% so far during the current month, following a 2.04% surge in July. The latter has been the sixth gain out of seven months, but yet, the smallest one since August 2016. For the entire past year, Amazon shares rose 10.95%. The stock has advanced 26.16% so far in 2017.

“Starting Monday, Whole Foods Market (NASDAQ:WFM) will offer lower prices on a selection of best-selling staples across its stores, with much more to come”, the two companies said in a press release last Thursday, cited by Business Insider.

As a result of the new discounts, prices of some items were slashed by 50%. Bananas used to be priced at $0.99 a pound, while their cost is now $0.49 a pound. Local grass-fed 85% lean ground beef was previously priced at $10.99 a pound, while its price is now $6.99 a pound.

According to CNN Money, the 37 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,150.00, with a high estimate of $1,275.00 and a low estimate of $640.00. The median estimate is a 21.56% surge compared to the closing price of $946.02 on August 28th.

The same media also reported that 34 out of 44 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 5 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

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 – $947.01
R2 – $947.99
R3 (Range Resistance – Sell) – $948.98
R4 (Long Breakout) – $951.93
R5 (Breakout Target 1) – $955.39
R6 (Breakout Target 2) – $956.81

S1 – $945.03
S2 – $944.05
S3 (Range Support – Buy) – $943.06
S4 (Short Breakout) – $940.11
S5 (Breakout Target 1) – $936.65
S6 (Breakout Target 2) – $935.23

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

Central Pivot Point – $951.44
R1 – $961.75
R2 – $978.23
R3 – $988.54
R4 – $998.84

S1 – $934.96
S2 – $924.65
S3 – $908.17
S4 – $891.68