Amazon.com, Inc. (AMZN) Message Board

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

AMZN 234.70

-1.2%

3:59 PM EST

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To: H James Morris who wrote (11751)	7/25/1998 8:16:00 PM
From: Rob S.	Read Replies (1) of 164684

I am looking at the TA on AMZN; Of course, we got a double top - something a lot of tech analysts see as a confirming formation and very bearish. The stochastics indicator failed to push past the 80 level and now trends bearish. MACD failed to mount a new high as the stock tested the 140 level; another indicator of a break-down in accumulation and momentum - very bearish. The 21-day money flow oscillator started trending negative when the stock first reached 140 a July 6th but was still into positive territory. It continued on the decline and has now crossed into the red (negative) territory for the first time since the rally began when the stock was at the 40 level. Very bearish. The RSI short-term indicator crossed yesterday and the general trend is also negative. Bearish. Rate of change indicator is down to a zero cross. Mildly bearish. On-Balance-Volume indicator is trending negatively from the precipitous high water mark - bearish. The Positive and Minus direction indicators are trending toward cross-over. Fairly bearish. It is normal to have just a simple majority of indicators showing the same trend. In this case we have all technical indicators bearish.

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