Amazon announced Wednesday that it has launched its first Nordic online store in Sweden as the e-commerce giant looks to expand further across the European continent.
Citizens in Sweden will now be able to order products through Amazon.se instead of having to make purchases via Amazon stores in other European countries including the British store (Amazon.co.uk) or the German store (Amazon.de), where they were shown a limited selection of products and incurred high delivery fees.
Amazon Vice President for European Expansion, Alex Ootes, said in a statement that Amazon.se will feature over 150 million products including tens of thousands from Swedish businesses.
While Amazon.se provides local retailers with a new platform through which to sell their goods and a convenient shopping platform for customers, some Swedes are concerned that Amazon doesn’t treat employees fairly and that it could threaten other local firms.
One Twitter user wrote: “So Amazon opened in Sweden today. All I say is, why? I see no reason why I would order anything from Amazon when we already have Scandinavian companies that provide better services, better prices and faster shipping.”
Sweden is the 17th country where Amazon has set up an online store. In Europe, Amazon has set up online stores in the U.K., Germany, France, Italy, Spain, and The Netherlands, where it launched just six months ago.
Amazon.com, Inc. offers a range of products and services through its Websites.
The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It also manufactures and sells electronic devices.
It operates through three segments: North America, International and Amazon Web Services (AWS). Its AWS products include analytics, Amazon Athena, Amazon CloudSearch, Amazon EMR, Amazon Elasticsearch Service, Amazon Kinesis, Amazon Managed Streaming for Apache Kafka, Amazon Redshift, Amazon QuickSight, AWS Data Pipeline, AWS Glue and AWS Lake Formation.
AWS solutions include machine learning, analytics and data lakes, Internet of Things, serverless computing, containers, enterprise applications, and storage. In addition, the Company provides services, such as advertising.
It also offers Amazon Prime, a membership program that includes free shipping, access to streaming of various movies and television (TV) episodes.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 3,111.71.
The projected upper bound is: 3,387.79.
The projected lower bound is: 2,931.78.
The projected closing price is: 3,159.79.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 58.0104. This is not an overbought or oversold reading. The last signal was a buy 3 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 46.35. 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 sell 38 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 -70. This is not a topping or bottoming area. The last signal was a sell 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.
Rex Takasugi – TD Profile
AMAZON COM closed down -123.550 at 3,162.780. Volume was 100% below average (consolidating) and Bollinger Bands were 22% narrower than normal.
Open High Low Close Volume 3,249.300 3,264.020 3,162.470 3,162.780 639
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 3,225.75 3,227.86 2,609.01 Volatility: 32 45 48 Volume: 4,389,537 4,985,015 5,136,254
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.
AMAZON COM is currently 21.2% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
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 12 periods.