• Return to Headlines

After Yesterday's Rally of 1.24% Shares Could Potentially Pullback

By Shiri Gupta

Amazon.com (NASDAQ:AMZN) traded in a range yesterday that spanned from a low of $890.28 to a high of $902.92. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $893.49 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Amazon.com have traded between a low of $414.55 and a high of $901.60 and are now at $901.17, which is 117% above that low price. The 200-day and 50-day moving averages have moved 0.65% higher and 1.65% higher over the past week, respectively.

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 13.3%. 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