Amazon.com, Inc. AMZN shares are trading higher by $8 at $561.98 in Tuesday's session. Before the open, the issue was downgraded by Raymond James from Strong Buy to Outperform based on slowing margin expansion.
The Street used the downgrade as a buying opportunity as the issue was $0.06 off its lower open at $545.05 before reversing course. It's now $17 off that low and continues to make new highs for the day.
So far, it has surpassed Friday's high ($562.33), reaching $562.76. It's now trading in an area with only minor resistance points until last Thursday's high of $571.40.
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