The worlds biggest on-line retailer Amazon.com Inc (AMZN) is said to make plans to invest $1.49 billion in the construction of a huge air cargo hub in northern Kentucky. According to state officials, a 50-year lease for approximately 900 acres of property from Cincinnati/Northern Kentucky International Airport has been agreed to. The new site would compare with United Parcel Service Incs 1 220-acre hub in Louisville and FedEx Corporations over 900-acre hub in Memphis.
Amazon shares closed lower for a third consecutive session on Tuesday. The stock went down 0.83% ($6.90) to $823.48, with the daily high and the daily low being at $826.99 and $819.56 respectively. In the week ended on January 29th the shares of the e-commerce giant added 3.39% to their market value compared to a week ago, which marked the third gain in the past four weeks and also the best performance since the week ended on January 8th. The stock soared 9.82% in January, while marking its first gain in the past four months and also the best performance since last April. For the entire 2016, Amazon shares rose 10.95%.
As of yet, no exact start date for the hub has been disclosed. Once the project is completed, according to Amazon, it is expected to create over 2 000 job positions.
The on-line retailer was to spend almost $462 million on building and improvements over an unspecified period of time, as part of its investment effort, a report by the Kentucky Economic Development Finance Authority revealed.
The company will take advantage of $40 million in tax incentives over 10 years, in case hiring obligations are met. The latter encompass targeted average wages with benefits included of $26 per hour.
Despite that Amazon has stated it intends to simply supplement top cargo carriers, not take their dominant position, some experts see greater ambitions.
“We estimate a $400 billion-plus market opportunity for Amazon in delivery, freight forwarding, and contract logistics”, Colin Sebastian, an analyst at Baird Equity Research, told clients, cited by Reuters.
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 – $824.16
R2 – $824.84
R3 (Range Resistance – Sell) – $825.52
R4 (Long Breakout) – $827.57
R5 (Breakout Target 1) – $829.95
R6 (Breakout Target 2) – $830.95
S1 – $822.80
S2 – $822.12
S3 (Range Support – Buy) – $821.44
S4 (Short Breakout) – $819.39
S5 (Breakout Target 1) – $817.01
S6 (Breakout Target 2) – $816.01
By using the traditional method of calculation, the weekly levels of importance for Amazon.com Inc (AMZN) are presented as follows:
Central Pivot Point – $828.23
R1 – $851.38
R2 – $867.00
R3 – $890.14
R4 – $913.29
S1 – $812.62
S2 – $789.47
S3 – $773.86
S4 – $758.25
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