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Amazon.com (AMZN) Crosses Pivot Point Support at $270.15

Published on Mon, 06/24/2013 - 10:06
By Mallory Stone

Shares of Amazon.com (NASDAQ:AMZN) opened today below their pivot of $273.00 and have already reached the first level of support at $270.15. Should the shares continue to fall, the support pivots of $266.95 and $260.90 will be of interest.

In the past 52 weeks, Amazon.com share prices have been bracketed by a low of $212.61 and a high of $284.72 and are now at $267.87, 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

There is potential upside of 17.3% for shares of Amazon.com based on a current price of $267.87 and an average consensus analyst price target of $314.12. The stock should find initial support at its 50-day moving average (MA) of $266.42 and further support at its 200-day MA of $258.02.

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.

By Mallory Stone
mstone@fnno.com