AMZN Ready for New Highs
The chart below of Amazon.com (AMZN) speaks for itself.
The stock closed Friday at $94.45, and is a buy at $96. The 50 day moving average looks poised to start trending upwards once again. With a pickup at $96 you can really play the position as tight or as loose as you want as if the break is good the stock should easily extend past $100 no problem.
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For those keeping track Amazon.com has been mentioned here on the blog several… times… before…
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4th of July
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Buy, Sell or Hold: Amazon.com Inc. (Nasdaq: AMZN) Remains Unquestionably Bullish
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Buy, Sell or Hold: Amazon.com Inc. (Nasdaq: AMZN) Remains Unquestionably Bullish
(Contrarian Profits, 6/22/09)
It looks like to me like if AMZN breaks resistance here that it could go well above $100, maybe even $105. The stock has a nice base to work from and looks like a good short term pick.