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Shares of Amazon.com Rise Above Previous 52-Week High

By James Quinn

Shares of Amazon.com (NASDAQ:AMZN) traded today at $699.00, breaking its 52-week high. So far today approximately 1.9 million shares have been exchanged, as compared to an average 30-day volume of 3.9 million shares.

Potential upside of 5.3% exists for Amazon.com, based on a current level of $696.01 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.

In the past 52 weeks, Amazon.com share prices have been bracketed by a low of $414.55 and a high of $699.00 and are now at $696.01, 68% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has risen 0.6%.

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.

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 28.6%. 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