Amazon shares gain for a third session in a row on Friday, company to open new distribution center in Bolton

According to a statement by Inc (AMZN) on Friday, it intends to open a new distribution center in Bolton, England, next year, as the company continues to expand in the UK, its third-largest market outside North America. The center is to ensure 1 200 new full-time job positions, while advanced robotics technology is to make it possible for products to be lifted and moved throughout the facility.

Amazon shares closed higher for a third consecutive trading session on Friday. The stock edged up 0.20% ($2.01) to $1,002.94, with the intraday high and the intraday low being at $1,007.77 and $1,001.03 respectively.

In the week ended on October 15th the shares of the e-commerce giant added 1.35% to their market value compared to a week ago, which marked a third consecutive period of gains.

The stock has extended its advance to 4.33% so far during the current month, following a 1.96% drop in September. The latter has been a second consecutive month of losses.

For the entire past year, the shares of the NASDAQ-listed company gained 10.95%. The stock has advanced another 33.75% so far in 2017.

At present, Amazon operates 16 distribution centers across the UK, with the centers in Bolton, Manchester and Warrington alone being expected to employ around 3 500 people.

Amazon has invested GBP 6.4 billion in the UK since 2010 in areas such as research and development, logistics, order filling as well as in head office functions.

According to CNN Money, the 40 analysts, offering 12-month forecasts regarding Inc’s stock price, have a median target of $1,160.50, with a high estimate of $1,400.00 and a low estimate of $640.00. The median estimate is a 15.71% surge compared to the closing price of $1,002.94 on October 13th.

The same media also reported that 37 out of 47 surveyed investment analysts had rated Inc’s stock as “Buy”, while 5 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

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 – $1,003.56
R2 – $1,004.18
R3 (Range Resistance – Sell) – $1,004.79
R4 (Long Breakout) – $1,006.65
R5 (Breakout Target 1) – $1,008.81
R6 (Breakout Target 2) – $1,009.69

S1 – $1,002.32
S2 – $1,001.70
S3 (Range Support – Buy) – $1,001.09
S4 (Short Breakout) – $999.23
S5 (Breakout Target 1) – $997.07
S6 (Breakout Target 2) – $996.19

By using the traditional method of calculation, the weekly levels of importance for Inc (AMZN) are presented as follows:

Central Pivot Point – $997.16
R1 – $1,014.22
R2 – $1,025.50
R3 – $1,042.56
R4 – $1,059.62

S1 – $985.88
S2 – $968.82
S3 – $957.54
S4 – $946.26 is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

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