Amazon shares gain for a third straight session on Wednesday, on-line giant to add over 2 000 permanent jobs in Britain by end of 2019

Amazon.com Inc (AMZN) revealed on Wednesday plans to create more than 2 000 permanent contract job positions in Britain, its largest European market, by the end of 2019.

The expansion is expected to bring the total number of Amazons permanent staff in the country to more than 29 500.

Amazon shares closed higher for a third consecutive trading session on NASDAQ on Wednesday. The stock edged up 0.24% ($4.69) to $1,939.00, after touching an intraday high at $1,941.97, or a price level not seen since May 7th ($1,949.10).

Shares of Amazon.com Inc have surged 29.10% so far in 2019 compared with a 19.51% gain for the benchmark index, S&P 500 (SPX).

In 2018, Amazon’s stock went up 28.43%, thus, it again outperformed the S&P 500, which registered a 6.24% loss.

The new jobs will be in research and development, Amazon Web Services and operations and will be based at the companys head office in London. Over 170 of the new UK jobs are to be based at Amazon’s development centers in London, Cambridge and Edinburgh.

Amazon said that the roles would be in areas such as engineering, software development, data science and cloud and machine learning. There will also be entry-level jobs at its warehouses.

Last year, the e-commerce giant created as many as 2 500 permanent jobs in the United Kingdom, while it has invested more than GBP 9.3 billion in its operations in the country since the year 2010.

According to CNN Money, the 43 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $2,250.00, with a high estimate of $2,750.00 and a low estimate of $2,030.00. The median estimate represents a 16.04% upside compared to the closing price of $1,939.00 on July 3rd.

The same media also reported that 43 out of 47 surveyed investment analysts had rated Amazon.com Inc’s stock as “Buy”, while 4 – as “Outperform”.

Weekly Pivot Levels

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

Central Pivot Point – $1,894.30
R1 – $1,916.19
R2 – $1,938.74
R3 – $1,960.63
R4 – $1,982.51

S1 – $1,871.75
S2 – $1,849.86
S3 – $1,827.31
S4 – $1,804.75