Profit Taking In Amazon After Q1 Beat

Amazon Inc. AMZN shares are trading higher by $58 at $660 in Friday's session. The catalyst for the monster rally is a Q1 EPS beat of $0.49 with a revenue beat of over $1B. The panic buying in the after hours and premarket session pushed the issue all the way to $682.80 before cooler heads prevailed to in the regular session. After a higher open, it continued to rally but found sellers just ahead of the round number at $670, peaking at $669.98 and reversing course. The ensuing decline has been slow and steady. So far, it has found intraday support at $654 and attempting to remain in the $660 handle.