Amazon (AMZN) NewsBite - AMZN Upgraded By Barclays Capital

Thursday, December 04, 2008 10:50 AM EDT

Amazon (AMZN) was upgraded today by analysts at Barclays Capital and the stock is now at $48.61, up $3.40 (7.52%) on volume of 5,897,306 shares traded. The analyst upped AMZN to "Overweight" from "Equal Weight." Over the last 52 weeks the stock has ranged from a low of $34.68 to a high of $97.43. Amazon stock has been showing support around $37.88 and resistance in the $49.54 range. Technical indicators for the stock are bullish and S&P gives AMZN a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AMZN the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

Click Symbol For More News On: (AMZN)