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Technology Stocks : Egghead Computer (EGGS)
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To: put2rich who wrote (2045)7/23/1998 4:47:00 PM
From: Wayners  Read Replies (1) of 8307
 
The AMZN chart is bad alright. The first thing that happened was the uptrend was broken on Jul 8. That's the first warning short that AMZN is forming a top. Next look for retest of this line or retest of old high. In this case it retested old high first to give a double top. If it had tested the old uptrendline it would have yielded a head and shoulders top. I see AMZN at $100 by the end of next week. At that point one of two things is going to happen. It either breaks directly through $100 right there or it bounces and prices retraces 50% of the last drop, so AMZN goes up to approx. $115 to $120, where it forms yet another top. In the end, its all going to end badly for AMZN.
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