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After Yesterday's Rally of 1.80% Shares Could Potentially Pullback

By Nick Russo

Amazon.Com Inc (NASDAQ:AMZN) traded in a range yesterday that spanned from a low of $1,273.39 to a high of $1,302.08. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $1,276.77 on volume of 2.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Amazon.Com Inc share prices have been bracketed by a low of $710.10 and a high of $1302.08 and are now at $1298.54, 83% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Amazon.Com Inc on October 9th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $993.00. Since that recommendation, shares of Amazon.Com Inc have risen 28.6%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders amazon.com inc

Ticker(s): AMZN