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Amazon.com (AMZN) Approaches New Upside Target of $1007.57

By James Quinn

Shares of Amazon.com (NASDAQ:AMZN) have bullishly opened above the pivot of $989.82 today and have reached the first resistance level of $997.64. Analysts will be watching for a cross of the next upside pivot targets of $1007.57 and $1025.32.

Amazon.com (NASDAQ:AMZN) defies analysts with a current price ($1001.87) 5.7% above its average consensus price target of $944.56. The stock should find initial support at its 50-day moving average (MA) of $596.52 and further support at its 200-day MA of $582.64.

Over the past year, Amazon.com has traded in a range of $414.55 to $1017.00 and is now at $1001.87, 142% above that low. 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%.

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: pivot alerts Amazon.com

Ticker(s): AMZN