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After Yesterday's Rally of 1.15% Shares Could Potentially Pullback

By David Diaz

Amazon.com (NASDAQ:AMZN) traded in a range yesterday that spanned from a low of $960.91 to a high of $969.17. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $963.15 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Amazon.com share prices have moved between a 52-week high of $968.20 and a 52-week low of $414.55 and are now trading 133% above that low price at $967.28 per share. Over the last five market days, 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 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 21.8%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Amazon.com

Ticker(s): AMZN