According to a statement by the US Consumer Product Safety Commission (CPSC) on Tuesday, some of Amazons portable chargers in the country have been recalled, as reports of overheating emerged.
Amazon shares closed lower for the first time in the past eight trading sessions on Tuesday. The stock went down 0.64% ($10.21) to $1,588.18, after touching an intraday high at $1,616.95 and also a fresh all-time high.
In the week ended on March 11th the shares of the e-commerce giant added 5.24% to their market value compared to a week ago, which marked a fourth consecutive period of gains.
The stock has pared its advance to 5.01% so far during the current month, following a 4.24% surge in February. The latter has been a second straight month of gains.
For the entire past year, the shares of the NASDAQ-listed company rose 55.96% following another 10.95% surge in 2016.
53 reports of portable chargers overheating have been received by Amazon, where incidents such as battery acid burns as well as property damage caused by fire were cited.
According to the Consumer Product Safety Commission, the recall affected approximately 260 000 units of 6 kinds of power banks. The latter were all produced by Guoguang Electric Co Ltd. in China.
According to CNN Money, the 41 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,650.00, with a high estimate of $1,850.00 and a low estimate of $980.00. The median estimate is a 3.89% surge compared to the closing price of $1,588.18 on March 13th.
The same media also reported that 38 out of 47 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 – $1,591.68
R2 – $1,595.18
R3 (Range Resistance – Sell) – $1,598.68
R4 (Long Breakout) – $1,609.18
R5 (Breakout Target 1) – $1,621.44
R6 (Breakout Target 2) – $1,626.59
S1 – $1,584.68
S2 – $1,581.18
S3 (Range Support – Buy) – $1,577.68
S4 (Short Breakout) – $1,567.18
S5 (Breakout Target 1) – $1,554.92
S6 (Breakout Target 2) – $1,549.77
By using the traditional method of calculation, the weekly levels of importance for Amazon.com Inc (AMZN) are presented as follows:
Central Pivot Point – $1,546.28
R1 – $1,611.55
R2 – $1,644.22
R3 – $1,709.49
R4 – $1,774.77
S1 – $1,513.61
S2 – $1,448.34
S3 – $1,415.67
S4 – $1,383.01
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