After Yesterday's Decline of 1.78%, Amazon.com Offers Investors Better Value
Amazon.com (NASDAQ:AMZN) traded in a range yesterday that spanned from a low of $703.32 to a high of $718.20. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $705.30 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
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 $705.67, which is 70% 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 35.8%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders Amazon.com