According to an August 16th statement by Amazon.com Inc (AMZN), a new distribution centre is to be opened in Bristol, South West England, next year, as the on-line retailer continues to expand its operations in the UK. In 2016, Amazons investment activity in the country grew almost 300% to more than GBP 400 million ($514 million).
Amazon shares closed lower for a second consecutive trading session on Wednesday. The stock went down 0.46% ($4.56) to $978.18, after touching an intraday low at $973.27, or a price level not seen since August 11th ($951.38). In the week ended on August 13th the shares of the e-commerce giant lost 1.98% of their market value compared to a week ago, which marked a third consecutive period of decrease. The stock extended its loss to 0.97% so far during the current month, following a 2.04% surge in July. The latter has been the sixth gain out of seven months, but yet, the smallest one since August 2016. For the entire past year, Amazon shares rose 10.95%, while also advancing 30.45% so far in 2017.
Four distribution centres were already planned for opening in 2017. As of the end of 2016, Amazon had 12 centres in operation in the UK, while its sales reached $9.5 billion.
Taking into account operating costs, the on-line retailer said it had invested GBP 6.4 billion in the UK since 2010, while its sales had been estimated to almost GBP 33 billion.
According to the company, additional 1 000 employees are to be hired on permanent contracts at the Bristol facility.
According to CNN Money, the 35 analysts, offering 12-month forecasts regarding Amazon.com Inc’s stock price, have a median target of $1,150.00, with a high estimate of $1,275.00 and a low estimate of $640.00. The median estimate is a 17.57% surge compared to the closing price of $978.18 on August 16th.
The same media also reported that 32 out of 42 surveyed investment analysts had rated Amazon.com 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 – $979.39
R2 – $980.59
R3 (Range Resistance – Sell) – $981.80
R4 (Long Breakout) – $985.42
R5 (Breakout Target 1) – $989.64
R6 (Breakout Target 2) – $991.41
S1 – $976.97
S2 – $975.77
S3 (Range Support – Buy) – $974.56
S4 (Short Breakout) – $970.94
S5 (Breakout Target 1) – $966.72
S6 (Breakout Target 2) – $964.95
By using the traditional method of calculation, the weekly levels of importance for Amazon.com Inc (AMZN) are presented as follows:
Central Pivot Point – $971.88
R1 – $992.39
R2 – $1,016.78
R3 – $1,037.29
R4 – $1,057.79
S1 – $947.49
S2 – $926.98
S3 – $902.59
S4 – $878.19
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
