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Look for Shares of Amazon.Com Inc to Potentially Pullback after Yesterday's 1.01% Rise

Jan 09, 2020 (SmarTrend(R) News Watch via COMTEX) --
Amazon.Com Inc (NASDAQ:AMZN) traded in a range yesterday that spanned from a low of $1,902.60 to a high of $1,917.82. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $1,913.89 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Amazon.Com Inc on October 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1,793.76. Since that recommendation, shares of Amazon.Com Inc have risen 5.5%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Amazon.Com Inc have traded between a low of $1566.76 and a high of $2035.80 and are now at $1911.00, which is 22% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

Write to SmarTrend at cs@mysmartrend.com

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