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Amazon (NASDAQ:AMZN) to Open New Facility in Texas

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

Amazon
Ticker: NASDAQ:AMZN
Price: $3177.29

Amazon News

Amazon.com announced plans to open the company’s first fulfillment center in Missouri City, TX. This new facility is anticipated to be launched in 2021.

The facility will span 1 million sq ft, in which associates will work on larger-sized customer items such as patio furniture, outdoor equipment or rugs.

Meanwhile, Amazon has been increasingly investing to build and modernize fulfillment centers, mainly to cut shipping costs and speed up delivery.

Shares of the company have gained 80.5%, outperforming the industry’s 71.8% rally in the past year.

The e-commerce giant has been successful in creating multiple job opportunities, while strengthening services all over the world.

The latest center in Missouri City is expected to create more than 500 full-time jobs.

Coming to Texas, the company has been strengthening presence in this state and has already invested millions of dollars. Since 2010, Amazon has created in excess of 43,000 jobs and invested more than $16.9 billion in the state.

The investment has been in multiple fulfillment facilities and cloud infrastructure, among others. Reportedly, these investments have generated an additional 49,000 indirect jobs.

The recent facility in Missouri City is further expected to complement its robust growth in Texas.

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.

The projected upper bound is: 3,391.70.

The projected lower bound is: 2,963.00.

The projected closing price is: 3,177.35.

Candlesticks

A white body occurred (because prices closed higher than they opened).
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.

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 32.2817. This is not an overbought or oversold reading. The last signal was a sell 6 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 51.23. 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 66 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 buy 8 period(s) ago.

Rex Takasugi – TD Profile

AMAZON COM closed up 19.290 at 3,177.290. Volume was 100% below average (consolidating) and Bollinger Bands were 58% narrower than normal.

Open       High       Low        Close     Volume
3,158.900  3,184.130  3,120.020  3,177.290 1,408
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           3,177.47      3,186.22       2,769.68
Volatility:      18            43             49
Volume:          3,008,135     4,634,310      5,160,781

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 is currently 14.7% 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 1 periods.

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