Amazon.com, Inc. (NASDAQ:AMZN) will close all of its pop-up locations in the U.S. beginning next month

Amazon.com, Inc. (NASDAQ:AMZN) will close all of its pop-up locations in the U.S. beginning next month

Amazon.com, Inc. (NASDAQ:AMZN) will close all of its pop-up locations in the U.S. beginning next month

Amazon will close all of its 87 pop-up locations in the U.S. in April, the company said Wednesday.

Amazon has pop-ups inside Whole Foods locations, Kohl’s stores and malls around the U.S. The shops let customers try Amazon products — such as Fire tablets, Kindle e-readers, Echo smart speakers — and Amazon services, like Prime Video, Audible and Kindle Unlimited.

“Across our Amazon network, we regularly evaluate our businesses to ensure we’re making thoughtful decisions around how we can best serve our customers,” an Amazon spokesperson told CNBC. “After much review, we came to the decision to discontinue our pop-up kiosk program, and are instead expanding Amazon Books and Amazon 4-star, where we provide a more comprehensive customer experience and broader selection.”

Amazon’s 4-star stores let customers browse and try some of the products that are sold on its website that have a customer rating of four stars or better. The company said it will open more 4-star locations and additional Amazon Books stores this year.

The company is also planning to open dozens of new grocery stores around the country, with the first expected in Los Angeles sometime this year, according to a separate Journal report last week.

The closures don’t affect cashierless Amazon Go stores. Amazon has considered opening as many as 3,000 Amazon Go locations by 2021, according to a report from Bloomberg in September 2018.

The move was first reported by The Wall Street Journal.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 1,650.26.

The projected upper bound is: 1,787.77.

The projected lower bound is: 1,558.46.

The projected closing price is: 1,673.11.

Candlesticks

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

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 73.2309. This is not an overbought or oversold reading. The last signal was a sell 0 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 55.41. 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 47 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 102.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 15 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 6 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed down -23.480 at 1,668.950. Volume was 40% below average (neutral) and Bollinger Bands were 61% narrower than normal.

Open High Low Close Volume___
1,695.9701,697.7501,668.2801,668.950 3,996,001

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 1,653.06 1,614.31 1,727.08
Volatility: 17 47 45
Volume: 3,742,434 5,810,997 5,563,950

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 3.4% below its 200-period moving average and is in an downward 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 bearish on AMZN.O and have had this outlook for the last 11 periods.

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