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Amazon.Com Inc (AMZN) Approaches New Upside Target of $3401.01

Oct 16, 2020 (SmarTrend(R) News Watch via COMTEX) --
Shares of Amazon.Com Inc (NASDAQ:AMZN) opened today above their pivot of $3325.01 and have already reached the first level of resistance at $3370.01. Should the shares continue to rise, the resistance pivots of $3401.01 and $3477.01 will be of interest.

Amazon.Com Inc (NASDAQ:AMZN) is currently priced 44.4% above its average consensus analyst price target of $1876.88. The stock should find initial support at its 50-day moving average (MA) of $3221.27 and further support at its 200-day MA of $2549.78.

Amazon.Com Inc share prices have moved between a 52-week high of $3552.25 and a 52-week low of $1626.03 and are now trading 108% above that low price at $3376.68 per share. The 200-day and 50-day moving averages have moved 1.22% higher and 0.61% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Amazon.Com Inc on September 29th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $3,174.09. Since that recommendation, shares of Amazon.Com Inc have risen 5.2%. We continue to monitor AMZN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to SmarTrend at cs@mysmartrend.com

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