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Upgrade Alert for Amazon.com (AMZN)Jan 18, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Amazon.com (NASDAQ:AMZN) was upgraded from Sector Perform to Outperform at Pacific Crest today. The stock closed yesterday at $270.48 on volume of 1.9 million shares, below average daily volume of 3.0 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 has overhead space with shares priced $270.48, or 4.4% below the average consensus analyst price target of $282.90. The stock should discover initial support at its 50-day moving average (MA) of $249.48 and subsequent support at its 200-day MA of $233.67. Over the past year, Amazon.com has traded in a range of $172.00 to $274.26 and closed yesterday at $270.48, 57% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has risen 0.6%. 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 13.5%. 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 [email protected] --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |