- Amazon weekly chart shows price taking support at the support line of a broadening pattern. If the support line of this pattern holds we may get a bounce in Amazon.
- One thing to note is that price is yet to hit the long term trend line of Amazon.
- Daily chart shows positive Divergence. For this to be effective price should trade above 20 Day SMA, For a bigger bounce 50 Day SMA too has to be taken out.
- S&P 500 WEEKEND UPDATE
December 18, 2011
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