Amazon.com, Inc. (NASDAQ:AMZN) launches pay-with-cash service in U.S. at Western Union locations

Amazon.com, Inc. (NASDAQ:AMZN) launches pay-with-cash service in U.S. at Western Union locations

Amazon.com, Inc. (NASDAQ:AMZN) launches pay-with-cash service in U.S. at Western Union locations

Amazon.com Inc. AMZN, -0.28% said Wednesday it is launching Amazon PayCode in the U.S., which allows customers to pay for online purchases in cash at Western Union Co. WU, -0.22% locations.

Amazon said 80% of Americans live within five miles of one of Western Union’s 15,000 locations. Western Union’s stock rallied 3.5% in premarket trading, while Amazon shares slipped 0.2%. T

he ecommerce giant said Amazon Cash, which allows customers to load cash into their Amazon Balance for making online purchases, is also now available in cash-loading locations. Amazon said PayCode has already been available in 19 countries.

Amazon’s stock has rallied 21.3% year to date through Tuesday, while Western Union shares have run up 34.0% and the S&P 500 SPX, +0.03% has gained 19.9%.

Technical Indicators

Overall, the bias in prices is: Downwards.

The projected upper bound is: 1,886.28.

The projected lower bound is: 1,741.81.

The projected closing price is: 1,814.04.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 19 white candles and 31 black candles for a net of 12 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 31.4696. This is not an overbought or oversold reading. The last signal was a sell 6 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.19. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 29 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -16. This is not a topping or bottoming area. The last signal was a sell 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 21 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed down -5.090 at 1,817.460. Volume was 28% below average (neutral) and Bollinger Bands were 41% narrower than normal.

Open     High      Low     Close     Volume___
1,817.0401,822.0601,795.5001,817.460 2,536,012
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 1,827.99 1,858.02 1,773.97
Volatility: 19 25 36
Volume: 2,690,765 3,371,175 4,582,871

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

AMAZON COM is currently 2.5% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of AMZN.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AMZN.O and have had this outlook for the last 7 periods.

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