Trading Roundup: First Checkout-Free Grocery Store by Amazon
Amazon is making a breakthrough in grocery shopping by finally opening the first checkout-free store after years of testing. Self-service has already been introduced in supermarkets around the globe, but an entirely cashier-free store is... something new.
The shop to be opened in Seattle will fully rely on technology. To start shopping, you must – obviously – download and scan your Amazon Go App passing through a gated turnstile. The store will then rely on cameras and – mostly – sensors to track the items you remove from the shelves or put back. Your app will be linked to a payment method of your choice, which will allow the store to charge you for the selected items. That's pretty much it. Quick, easy and stress-free – no queues!
It might be interesting to know that the technology behind the scenes is called Just Walk Out, but the details are kept secret. All we know is that it's been tested on Amazon employees and on a small bunch of selected customers.
The store opens this Monday, and we're all very excited to see how it goes. Meanwhile, let's have a look at how the new initiative has impacted Amazon share CFD price!
Amazon Share CFD Price in an Overview
Source: Admiral Markets MT5 platform, with MT5SE add-on, H4 chart, Oct 2017 - Jan 2018
The strong uptrend in #AMZN will probably continue. The breakout above 1380.67 resistance should target 1403.45 and 1424.56 as we can see a steady confluence within 1336-1350 zone. The MACD is still above the zero line, so uptrend is intact. The 4h-close below S3 support 1280 should initiate further retracement towards the trendline/order block confluence (green line) at 1212.
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Have a fantastic weekend,
Olga & Nenad
