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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 237.58

-2.7%

3:59 PM EST

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To: michael i olson who wrote (815)	11/19/1997 7:44:00 PM
From: John Xu	Read Replies (1) of 164684

>> John can you exapnd on your H & S and bursting thought. Thanks Though i am still learning TA, i feel obliged to explain. Please correct me if i am wrong. If you look at the daily chart of AMZN, the left shoulder formed on Sept 23 or so when AMZN changed hands at 57. The volume was relative high. The head formed the last week of Oct. when it was traded around 65. The volume was lower than the left shoulder. Right now, we are approaching 57 again on a very low volume (this is the right shoulder). If we broke down the neckline which sits around 45, then a typical H&S completes. According the theory, the lowest AMZN can go is 45 - (65 - 45) = 25. I want to add that everything is sure only after AMZN breaks the neckline. Therefore right now H&S is only a guess (a good one considering the fundamentals). I am simply waiting to see an insider files Form 144. John

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