According to a report by Reuters on Thursday, Amazon.com Inc has been accused by Ebay Inc of making attempts to poach sellers for its own platform by using Ebay’s internal messaging system.
In response, Amazon said that it was investigating the allegations thoroughly.
Amazon shares closed lower for a third consecutive trading session on NASDAQ on Thursday. It has also been the steepest daily loss since September 17th. The stock went down 2.22% ($43.34) to $1,909.42, after touching an intraday low at $1,896.57, or a price level not seen since September 24th ($1,865.00).
Shares of Amazon.com Inc have surged 63.27% so far in 2018 compared with an 8.53% gain for the underlying index, S&P 500 (SPX).
In 2017, Amazon’s stock rose 55.96%, thus, it again outperformed the S&P 500, which registered a 19.42% return.
“We have uncovered an unlawful and troubling scheme on the part of Amazon to solicit eBay sellers to move to Amazon’s platform,” eBay said in a statement, cited by Reuters.
“We have demanded that Amazon end its unlawful activity and we will take the appropriate steps, as needed, to protect eBay.”
In an earlier report, the Wall Street Journal noted an eBay probe concluded that over 1 000 messages had been sent to sellers on eBays platform by 50 Amazon employees worldwide.
According to CNN Money, the 44 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $2,175.00, with a high estimate of $2,943.30 and a low estimate of $1,990.00. The median estimate represents a 13.91% upside compared to the closing price of $1,909.42 on October 4th.
The same media also reported that 40 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 2 – 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 – $1,914.87
R2 – $1,920.32
R3 (Range Resistance – Sell) – $1,925.76
R4 (Long Breakout) – $1,942.11
R5 (Breakout Target 1) – $1,961.20
R6 (Breakout Target 2) – $1,969.25
S1 – $1,903.97
S2 – $1,898.52
S3 (Range Support – Buy) – $1,893.08
S4 (Short Breakout) – $1,876.73
S5 (Breakout Target 1) – $1,857.64
S6 (Breakout Target 2) – $1,849.59
By using the traditional method of calculation, the weekly levels of importance for Amazon.com Inc (AMZN) are presented as follows:
Central Pivot Point – $1,964.84
R1 – $2,064.68
R2 – $2,126.36
R3 – $2,226.20
R4 – $2,326.04
S1 – $1,903.16
S2 – $1,803.32
S3 – $1,741.64
S4 – $1,679.96
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