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Amazon (NASDAQ:AMZN) Planning to Add 3,500 New Jobs Across Six Cities in the U.S.

$AMZN #Amazon #OnlineShopping #USA #Nasdaq #Stocks #Trading

Amazon
Ticker: NASDAQ:AMZN
Price: $3312.49

Company News

Amazon today said it is planning to add 3,500 new jobs across six cities in the U.S. The comapny disclosed expansion plans of its tech hubs in Dallas, Detroit, Denver, New York (Manhattan), Phoenix, and San Diego. Amazon said it intends to invest more than 1.4 billion in these new offices.

“People from all walks of life come to Amazon to develop their career – from recent graduates looking for a place to turn their ideas into high-impact products, to veterans accessing new jobs in cloud computing thanks to our upskilling programs,” said Beth Galetti, Senior Vice President, Human Resources at Amazon. “These 3,500 new jobs will be in cities across the country with strong and diverse talent pools”.

Business Summary

Amazon.com, Inc. offers a range of products and services through its Websites.

The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

It also manufactures and sells electronic devices. It operates through three segments: North America, International and Amazon Web Services (AWS). Its AWS products include analytics, Amazon Athena, Amazon CloudSearch, Amazon EMR, Amazon Elasticsearch Service, Amazon Kinesis, Amazon Managed Streaming for Apache Kafka, Amazon Redshift, Amazon QuickSight, AWS Data Pipeline, AWS Glue and AWS Lake Formation. AWS solutions include machine learning, analytics and data lakes, Internet of Things, serverless computing, containers, enterprise applications, and storage. In addition, the Company provides services, such as advertising.

It also offers Amazon Prime, a membership program that includes free shipping, access to streaming of various movies and television (TV) episodes.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 3,534.73.

The projected lower bound is: 3,121.78.

The projected closing price is: 3,328.26.

Candlesticks

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 77.9123. This is not an overbought or oversold reading. The last signal was a buy 21 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 65.78. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 25 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 204.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 7 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed up 130.080 at 3,312.490. Volume was 10% above average (neutral) and Bollinger Bands were 23% narrower than normal.

Open       High        Low         Close       Volume
3,212.000  3,320.000   3,205.819   3,312.490   5,345,974
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period      50-period       200-period
Close:           3,179.25       2,956.73        2,252.08
Volatility:      35             44              44
Volume:          3,615,729      4,858,415       4,651,804

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

AMAZON COM gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.

AMAZON COM is currently 47.1% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of AMZN.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AMZN.O and have had this outlook for the last 0 periods.

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