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Amazon shares drop for a second session in a row on Friday, company’s job listings point to insurance expansion in Europe

According to a report by Reuters, Amazons job advertisements brought to life speculation that the tech giant might soon expand its operations in product insurance on the European continent.

Amazon shares closed lower for a second consecutive trading session on Friday. The stock edged down 0.33% ($3.78) to $1,125.35, with the intraday high and the intraday low being at $1,131.41 and $1,124.16 respectively.

In the week ended on November 12th the shares of the e-commerce giant added 1.24% to their market value compared to a week ago, which marked a third consecutive period of gains.

However, due to Fridays retreat, the stock has pared its advance to 1.82% so far during the current month, following a 14.97% surge in October. The latter has been the best monthly performance since October 2015.

For the entire past year, the shares of the NASDAQ-listed company gained 10.95%. The stock has advanced another 50.07% so far in 2017.

Job vacancies listed on Linkedin as well as on other job portals on the web state that Amazon looks for employees for “a palette of new services” in product insurance within the European Union.

In 2016, the company embarked on warranty extension service Amazon Protect in Europe.

According to CNN Money, the 42 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,250.00, with a high estimate of $1,430.00 and a low estimate of $980.00. The median estimate is an 11.08% surge compared to the closing price of $1,125.35 on November 10th.

The same media also reported that 37 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 5 – as “Hold”.

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 – $1,126.01
R2 – $1,126.68
R3 (Range Resistance – Sell) – $1,127.34
R4 (Long Breakout) – $1,129.34
R5 (Breakout Target 1) – $1,131.67
R6 (Breakout Target 2) – $1,132.61

S1 – $1,124.69
S2 – $1,124.02
S3 (Range Support – Buy) – $1,123.36
S4 (Short Breakout) – $1,121.36
S5 (Breakout Target 1) – $1,119.03
S6 (Breakout Target 2) – $1,118.09

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

Central Pivot Point – $1,123.30
R1 – $1,137.59
R2 – $1,149.84
R3 – $1,164.13
R4 – $1,178.43

S1 – $1,111.05
S2 – $1,096.76
S3 – $1,084.51
S4 – $1,072.27

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