Amazon Update

Amazon Update

Overhead resistance is firming up.  $AMZN was rejected at the 200 day moving average in late January.  Despite a high volume post earnings surge on January 31st the stock failed at the 200 day again.  We remain cautious in the near term.  A clear break below last...
$AMZN Update(Hitting a Wall)

$AMZN Update(Hitting a Wall)

$AMZN has rallied nicely off the Christmas Eve spike low.  At last week’s high was +30% off the December low.  Tested the 200 day moving average in easing volume, first retest since the 50/200D bear cross.  Heading lower(-4.5%) as the new week begins.  The 50...
Amazon Update

Amazon Update

Amazon will be trading below a death cross when the market opens tomorrow.  The stock has not traded below this type of 50/200 day moving average bearish cross since May of 2014.  $AMZN spent the bulk of the next nine months below its 200 day moving average until a...