March 13, 2012

Triangle of Amazon

  • Amazon daily is forming a contracting triangle pattern in daily chart.
  • Price as shown in weekly chart is still above the weekly support line. If this line is not violated an up move is possible.
  • ES HOUR CHART ANALYSIS

3 comments:

  1. Hey Nifty'

    I've been watching the AMZN too. My fair value target is $95.

    Its margins are too narrow, and its in real danger of putting in consecutive losses in the coming quarters.

    Good company, but..its not making enough profit.
    -

    A lot better than SHLD though!

    ReplyDelete
  2. @Permabear Doomster

    As long as the weekly trend line holds $95 is not possible

    ReplyDelete
  3. Yes indeed.

    I see it as a bearish pennant, but then I am negative on the company in the near term.

    Easy place to go long or short, the break-levels either way are very clear.

    ReplyDelete