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Watch for Continued Gains in Shares of Amazon.com (AMZN)

By David Diaz

Amazon.com (NASDAQ:AMZN) traded today at a new 52-week high of $1001.20. Approximately 954,000 shares have changed hands today, as compared to an average 30-day volume of 3.9 million shares.

Over the past year, Amazon.com has traded in a range of $414.55 to $1001.20 and is now at $997.92, 141% above that low. 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 (NASDAQ:AMZN) is currently priced 5.3% above its average consensus analyst price target of $944.56. 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.

SmarTrend recommended that subscribers consider buying shares of Amazon.com on November 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $786.70. Since that recommendation, shares of Amazon.com have risen 26.6%. 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