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

AMZN 232.12

+1.6%

Dec 23 3:59 PM EST

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To: Rob S. who wrote (18565)	9/27/1998 3:03:00 PM
From: Olu Emuleomo	Read Replies (2) of 164684

lets look at some TA Yes Rob, lets look at some TA. I am current staring at.... bigcharts.com Resistance zone: 110 -- 120 Support zone: 95 -- 99 'Shorts-are-toast' Zone: Above 130 (i.e. on close over 130, shorts should really begin to sweat. At best the shorts will get a top at 140; but don't count on it! We are probably going to new highs! i.e. 150+) 200 day EMA: Around 72. Trending UP 50 day EMA: Around 99 Trending UP Reason for bullishness We have not closed below the 200day this year! We broke the 50day EMA in Aug; but we are now back above it. Notice how we bounced off the 200day. Same thing for YHOO, whose bounce was even cleaner than AMZN's!!!) Friday, we tested the 50day EMA, but found massive buying support. Current trading vol +50% (6.1m vs 4.4m) IBD Acc/Distr: B (This means that it is being accumulated) IBD Rel Strength 99 (Highest possible) Looking for a bullish cup-and-handle at the 110 -- 113 zone b/4 we power up to upper resistance at 120. The only internet stock more bullish than AMZN right now is YHOO. Caveat emptor --Olu E.

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