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SmarTrend Watching for Potential Pullback in Shares of Amazon.com After 2.06% Gain
Jan 24, 2013 (SmarTrend(R) News Watch via COMTEX) --
Amazon.com (NASDAQ:AMZN) traded in a range yesterday that spanned from a low of $269.37 to a high of $276.65. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $274.50 on volume of 3.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Amazon.com have traded between a low of $172.00 and a high of $276.65 and are now at $273.62, which is 59% above that low price. The 200-day and 50-day moving averages have moved 0.31% higher and 0.63% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Amazon.com on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $238.24. Since that recommendation, shares of Amazon.com have risen 12.5%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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