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SmarTrend Watching for Potential Rebound in Shares of Amazon.Com Inc After 3.21% Loss

By Shiri Gupta

Amazon.Com Inc (NASDAQ:AMZN) traded in a range yesterday that spanned from a low of $1,760.42 to a high of $1,792.01. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $1,776.00 on volume of 2.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Amazon.Com Inc share prices have been bracketed by a low of $1307.00 and a high of $2050.50 and are now at $1760.42, 35% 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 its subscribers protect gains by selling shares of Amazon.Com Inc on July 29th, 2019 by issuing a Downtrend alert when the shares were trading at $1,911.39. Since that call, shares of Amazon.Com Inc have fallen 4.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders amazon.com inc

Ticker(s): AMZN