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Upgrade Alert for Amazon.com (AMZN)

By James Quinn

Amazon.com (NASDAQ:AMZN) was upgraded from Hold to Buy at Argus Research today. The stock closed yesterday at $804.70 on volume of 4.1 million shares, above average daily volume of 3.9 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.

Amazon.com (NASDAQ:AMZN) is currently priced 8.9% above its average consensus analyst price target of $733.03. Amazon.com shares have support at the 50-day moving average (MA) of $596.52 and additional support at the 200-day MA of $582.64.

In the past 52 weeks, shares of Amazon.com have traded between a low of $414.55 and a high of $790.79 and closed yesterday at $804.70, which is 94% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.6%.

SmarTrend recommended that subscribers consider buying shares of Amazon.com on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $528.43. Since that recommendation, shares of Amazon.com have risen 49.4%. 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

Ticker(s): AMZN