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  • STOCKDOX STOCKDOX Oct 12, 1998 9:59 PM Flag

    Technical Analysis of AMZN

    The stock is trading below it 50dma which is
    short term negitive. It is above its 200dma so all is
    not lost yet longer term. The stock attempted today
    to rally above the 50dma (aprox. 105) and failed
    badly. It fact the stock has failed to each time it has
    tried to rise above its 50 dma. A strong move above the
    50dma would be bullish but it doesn't look like it is
    going to make it. There is a lot of technical pressure
    on the stock to push it down to the 200 dma (aprox.
    50). So what can we conclude from this information?
    Basically that the stock is in at least a short term
    downtrend with resistance at the 50 dma and support at the
    200 dma. Other charting indicators (lower highs and
    lower lows indicate that the stock is in a downtrend
    with no support for quite a ways down. Short sellers
    or put buyer should select their positions around
    the 50 dma. If we move signifcantly above it, cover
    your shorts, if fail to breach it and start to head
    down initiate new positions.

    Cheers DOX

767.58-3.71(-0.48%)Aug 30 4:00 PMEDT