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

By Nick Russo

Shares of Amazon.com (NASDAQ:AMZN) traded today at $1017.00, breaking its 52-week high. This new high was reached on below average trading volume as 1.4 million shares traded hands, while the average 30-day volume is approximately 3.9 million shares.

Amazon.com (NASDAQ:AMZN) is currently priced 5.7% 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.

In the past 52 weeks, Amazon.com share prices have been bracketed by a low of $414.55 and a high of $1017.00 and are now at $1001.87, 142% 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 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 25.6%. 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