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Amazon.com (AMZN) Breaks Through Resistance at $907.08

By Shiri Gupta

Shares of Amazon.com (NASDAQ:AMZN) opened today above their pivot of $897.29 and have already reached the first level of resistance at $907.08. Investors may be interested in a cross of the next upside pivot targets of $912.17 and $927.05.

Potential upside of 4.2% exists for Amazon.com, based on a current level of $906.77 and analysts' average consensus price target of $944.56. Amazon.com shares have support at the 50-day moving average (MA) of $596.52 and additional support at the 200-day MA of $582.64.

In the past 52 weeks, Amazon.com share prices have been bracketed by a low of $414.55 and a high of $923.72 and are now at $906.77, 119% above that low price. 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 14.7%. 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