Amazon.com (NASDAQ: AMZN) shares have continued to rally showing incredible strength. The stock is up over 37% in the last 3 months, and closed today at $168.47, approximately 3 points away from its 52-week high. Amazon also trades above its key moving averages which continues to be a bullish sign for most technical investors. Amazon continues to grow its retail business, offering various departments including Sports & Outdoors, Grocery, Health & Beauty, and Downloads. The company's Kindle device continues to sell strongly as well. Amazon is also seen as a cloud computing play, as the company allows businesses and individuals to rent shared space on Amazon's servers. these users only pay for what they use, making it attractive to businesses and individuals looking to cut down on costs.
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