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Amazon.Com Inc Rises 1.78% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Amazon.Com Inc (NASDAQ:AMZN) traded in a range yesterday that spanned from a low of $1,762.18 to a high of $1,786.92. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $1,756.96 on volume of 2.3 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 Inc have traded between a low of $931.75 and a high of $1785.92 and are now at $1785.90, which is 92% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.9%.

SmarTrend recommended that subscribers consider buying shares of Amazon.Com Inc on April 18th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1,518.96. Since that recommendation, shares of Amazon.Com Inc have risen 15.5%. 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