That's one long HAMMER. A classic example of a reversal candle stick pattern at support with an oversold stochastic.
Normally I would like to see what the next candle looks like because this hammer is considered a NAKED HAMMER(not confirmed), but due to the size of the hammer's shadow, it is likely that Amazon will move higher.Near term price target $247
AMZN is probably in a class by itself as one of the few companies that enjoys a long history of bullish price action with no appreciable profit to justify such loyalty. It's ultra thin margins are legendary and shows that logic is rarely a component part of a large investor's skill set. Fundamentally there is no justification for the stock 's lofty price.
All the...
Amazon just completed what looks like a terminal pattern, which suggests short-term consolidation and then sideways action. Please note the comments on the chart because fundamentally I am bullish on AMZN but at times the stock gets ahead of itself. Also note all the other technical comments I have made on AMZN in the past.
AMZN has driven ahead of the market...
I view Amazon as close enough to a level to buy because the distance to "massive support" is roughly 12 pts away and the distance to "strong sellers is 22 points. This provides us with nearly a 2:1 ratio of upside potential to downside risk.
By: Tim West, June 4, 2012 209.88 last, 9:41AM EST
Amazon is breaking down from a bear flag pattern which occurred with falling volume. The high volume decline in October found support at the gap around the $200 level. Next support levels at $190 and $180. Amazon is down with a down market, but it was weak the past few days when the overall market was strong. AMZN is so expensive, like MSFT, DELL, KO, AMGN and...
