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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Paul Shread who wrote (29266)	9/7/2000 1:26:05 PM
From: ken-l	Read Replies (1) of 42787

paul re: AMZN is indeed testing its trend line @43+/-; but i dont think it's inverted H&S formation !! it has been trading within its up trending channel with the lower band of the channel support @41+/- today <which is also the 38.2% intermediate term retracement @41.31+/-> !! if it rebounds here, it shouldnt be that hard for it to retest its short term top @49+/- !! the upper resist after the short term top ought to be @51+/- <another strong resistance> !! however, since it already broke its 23.6% intermediate term retracement @44.49+/-; there is a chance it might head lower to its 50-61.8% retracement @38.75 and 36.18 respectively !! should the compx close above its 10dma or its 23.6 intermediate term retracment @4096 or 4084 respectively tonite, chances are the support @43+/- ought to hold; and a rebound ought to be expected !!! but all in all ... it's only my humble opinion, and i'm usually wrong !! regards and good luck, auto ps. not an advice to buy/sell AMZN

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