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  • Proverbs3:5,6 Proverbs3:5,6 Jan 8, 1998 11:43 PM Flag

    earnings report...

    You said that you see an inclining triangle but how about a parallel uptrend. If 1/9/98 see the low around 53 and bounce back intraday to close above that would establish an uptrend, bullish channel. What do you think?

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    • Your observation is compelling. It is my intuition, however, that the recent $60 peak on Dec 31, '97 is the right shoulder position of the head and shoulder formation (head being AMZN all time high of about $65 at the end of October. Also you'll notice more volume on the down curves than up during the recent channel formation....
      Today and perhaps tomorrow would give us a better idea on the development of the future AMZN graph. And guess what? S&P futures down more than 7 points at 6:30 am central. Every index in the world down anywhere from 1/2 to 5% today. DOW dropped 100 pts yesterday but NASDAQ held up pretty well...I think it will be a nasty day in NASDAQ today. I see a losing day for AMZN.

691.53-7.43(-1.06%)3:45 PMEDT