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Amazon’s stock flips the technical script to success from failure with first close above $3,200


Despite the huge rally in Inc.’s stock this year during the COVID-19 pandemic, and despite increasing regulatory concerns, there was one thing the stock has failed to do — close above $3,200.

Until Wednesday.

It wasn’t easy but after climbing above $3,200 a little after 1:30 p.m. Eastern, the stock

seesawed around that level multiple times, before a final push above it with minutes to spare in the session. It closed at a record $3,205.03, up 73.4% on the year, less than a week after the e-commerce and cloud giant reported record second-quarter profits.

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