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Amazon.Com Inc (AMZN) Crosses Pivot Point Resistance at $1606.91

By Amy Schwartz

Amazon.Com Inc (NASDAQ:AMZN) has opened bullishly above the pivot of $1596.81 today and has reached the first level of resistance at $1606.91. Should the shares continue to rise, the resistance pivots of $1615.44 and $1634.07 will be of interest.

Potential upside of 4.6% exists for Amazon.Com Inc, based on a current level of $1615.29 and analysts' average consensus price target of $1688.81. The stock should find initial support at its 50-day moving average (MA) of $973.20 and further support at its 200-day MA of $857.71.

In the past 52 weeks, Amazon.Com Inc share prices have been bracketed by a low of $710.10 and a high of $1617.54 and are now at $1615.29, 127% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Amazon.Com Inc on February 16th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1,456.18. Since that recommendation, shares of Amazon.Com Inc have risen 9.8%. 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 inc

Ticker(s): AMZN