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Downgrade Alert for Amazon.com (AMZN)

By Nick Russo

Amazon.com (NASDAQ:AMZN) was downgraded from Outperform to Market Perform at Cowen and Company today. The stock closed yesterday at $313.18 on volume of 7.5 million shares, above average daily volume of 3.5 million.

There is potential upside of 23.4% for shares of Amazon.com based on a current price of $313.18 and an average consensus analyst price target of $386.61. The stock should run into initial resistance at its 50-day moving average (MA) of $325.87 and subsequent resistance at its 200-day MA of $335.98.

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.

Amazon.com share prices have moved between a 52-week high of $408.06 and a 52-week low of $284.38 and closed yesterday at 10% above that low price at $313.18 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.2%.

SmarTrend is tracking the current trend status for Amazon.com and will alert subscribers who have AMZN in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Amazon.com

Ticker(s): AMZN