According to a statement by Amazon.com Inc (AMZN) on Thursday, it intends to add 2 000 permanent contract job positions in France in 2018. This way the total number of its permanent staff in the European country will reach 7 500. The move is indicative of Amazons confidence in Frances economy, the company said in the statement.
Amazon shares closed higher for a fourth consecutive trading session on Thursday. The stock went up 0.74% ($10.71) to $1,461.76, after touching an intraday high at $1,468.37, or a price level not seen since February 2nd ($1,498.00).
In the week ended on February 11th the shares of the e-commerce giant lost 6.32% of their market value compared to a week ago, which marked the first drop out of three weeks. It has also been the worst performance since the week ended on February 7th 2016.
However, due to the recent streak of gains, the stock has neutralized earlier losses and is now up 0.75% so far during the current month, following a 24.06% surge in January. The latter has been the best monthly performance since September 2010.
For the entire past year, the shares of the NASDAQ-listed company rose 55.96% following another 10.95% surge in 2016.
In France, Amazon has been operating its Amazon Prime Now express delivery service since 2016, as five logistics centers have already been opened across the country.
Amazon also intends to establish a 142 000-square-foot delivery warehouse in France this year.
Earlier in February the e-commerce giant settled a nearly EUR 200 million dispute with local tax authorities.
France is Amazons third-largest market in Europe following the United Kingdom and Germany.
According to CNN Money, the 41 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,650.00, with a high estimate of $1,850.00 and a low estimate of $980.00. The median estimate is a 12.88% surge compared to the closing price of $1,461.76 on February 15th.
The same media also reported that 38 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 4 – 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 – $1,464.57
R2 – $1,467.39
R3 (Range Resistance – Sell) – $1,470.20
R4 (Long Breakout) – $1,478.64
R5 (Breakout Target 1) – $1,488.50
R6 (Breakout Target 2) – $1,492.96
S1 – $1,458.95
S2 – $1,456.13
S3 (Range Support – Buy) – $1,453.32
S4 (Short Breakout) – $1,444.88
S5 (Breakout Target 1) – $1,435.02
S6 (Breakout Target 2) – $1,430.56
By using the traditional method of calculation, the weekly levels of importance for Amazon.com Inc (AMZN) are presented as follows:
Central Pivot Point – $1,355.51
R1 – $1,445.08
R2 – $1,550.57
R3 – $1,640.14
R4 – $1,729.72
S1 – $1,250.02
S2 – $1,160.45
S3 – $1,054.96
S4 – $949.48
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