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Amazon.Com Inc Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Amazon.Com Inc (NASDAQ:AMZN) traded today at a new 52-week high of $1717.55. This new high was reached on below average trading volume as 839,000 shares traded hands, while the average 30-day volume is approximately 3.3 million shares.

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.

In the past 52 weeks, shares of Amazon.Com Inc have traded between a low of $931.75 and a high of $1717.55 and are now at $1715.57, which is 84% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.1%.

Potential upside of 9.4% exists for Amazon.Com Inc, based on a current level of $1715.57 and analysts' average consensus price target of $1876.88. The stock should discover initial support at its 50-day moving average (MA) of $1566.43 and subsequent support at its 200-day MA of $1304.40.

SmarTrend recommended that subscribers consider buying shares of Amazon.Com Inc on April 18th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1,518.96. Since that recommendation, shares of Amazon.Com Inc have risen 12.2%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows amazon.com inc

Ticker(s): AMZN