Throwing out the Chart on AMZN

By Steve Abraham on Apr 25, 2008

I like AMZN at these levels. I think the stock got sold off after earnings that were really good. I like the AMZN play going into the second half of the year. With gas prices expected to reach $4-$5/gallon, I think a lot more people will think twice about going to the malls 10 times or more during the holiday season. I think AMZN benefits from this. AMZN is still growing and is a profitable company. Higher gas prices I think is another reason why AMZN looks good here going into the second half of the year.

This entry was posted on Friday, April 25th, 2008 at 6:49 pm and is filed under Annotated Analysis. You can skip to the end and leave a response. Pinging is currently not allowed.

3 Responses to “Throwing out the Chart on AMZN”

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By Jeffrey Austin White on May 6th, 2008 at 8:12 pm

I just entered into a long position last week after Amazon tested resistance for the third time. Just as my luck the stock is starting to trend in a negative direction according to directional movement system. I am banking on the future business from the strong web service library that Amazon is aggressively compiling. Expecting the stock to turn around tomorrow. If the stock test the resistance level again and wins I think we can expect greater than 86 one year target.

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