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Amazon.com: The Winning Streak Continues (AMZN)

By Nick Russo

Amazon.com (NASDAQ:AMZN) traded at a new 52-week high today of $731.50. This new high was reached on below average trading volume as 740,000 shares traded hands, while the average 30-day volume is approximately 3.9 million shares.

Potential upside of 0.2% exists for Amazon.com, based on a current level of $731.50 and analysts' average consensus price target of $733.03. The stock should discover initial support at its 50-day moving average (MA) of $596.52 and subsequent support at its 200-day MA of $582.64.

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company's 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 have traded between a low of $414.55 and a high of $731.50 and are now at $731.50, which is 76% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Amazon.com on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $528.43. Since that recommendation, shares of Amazon.com have risen 37.3%. 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

Ticker(s): AMZN