Downgrade Alert for Amazon.com (AMZN)
Amazon.com (NASDAQ:AMZN) was downgraded from Buy to Hold at Argus Research today. The stock closed yesterday at $445.10 on volume of 17.2 million shares, above average daily volume of 2.8 million.
Amazon.com share prices have moved between a 52-week high of $452.65 and a 52-week low of $284.00 and closed yesterday at 57% above that low price at $445.10 per share. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.7%.
Based on a current price of $445.10, Amazon.com is currently 11.3% above its average consensus analyst price target of $394.69. The stock should find initial support at its 50-day moving average (MA) of $379.92 and further support at its 200-day MA of $336.25.
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.
SmarTrend recommended that subscribers consider buying shares of Amazon.com on January 23rd, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $312.33. Since that recommendation, shares of Amazon.com have risen 42.5%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Amazon.com