Downgrade Alert for Amazon.com (AMZN)
Amazon.com (NASDAQ:AMZN) was downgraded from Buy to Neutral at UBS today. The stock closed yesterday at $361.79 on volume of 3.2 million shares, below average daily volume of 3.8 million.
Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company's products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.
There is potential upside of 19.8% for shares of Amazon.com based on a current price of $361.79 and an average consensus analyst price target of $433.49. The stock should hit resistance at its 50-day moving average (MA) of $387.72, as well as support at its 200-day MA of $323.15.
In the past 52 weeks, Amazon.com share prices have been bracketed by a low of $245.75 and a high of $408.06 and closed yesterday at $361.79, 47% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.4%.
SmarTrend is monitoring the recent change of momentum in Amazon.com. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Amazon.com in search of a potential trend change.
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