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TMCNET eNEWSLETTER SIGNUP (AMZN) Approaches New Downside Target of $268.23
[January 29, 2013] (AMZN) Approaches New Downside Target of $268.23

Jan 29, 2013 (SmarTrend(R) News Watch via COMTEX) -- (NASDAQ:AMZN) has opened bearishly below the pivot of $278.31 today and has reached the first level of support at $272.13. Analysts will be watching for a cross of the next downside pivot targets of $268.23 and $258.15.

In the past 52 weeks, shares of have traded between a low of $172.00 and a high of $284.72 and are now at $269.25, which is 57% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.2%.

Potential upside of 8.5% exists for, based on a current level of $269.25 and analysts' average consensus price target of $292.15. The stock should find initial support at its 50-day moving average (MA) of $254.83 and further support at its 200-day MA of $236.07.

SmarTrend recommended that subscribers consider buying shares of 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 have risen 15.9%. 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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