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

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Despite the huge rally in Amazon.com 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
AMZN,
+0.62%

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.

Don’t miss: Amazon promised to spend its profit amid pandemic, but ended up…



Source marketwatch.com

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