Amazon.com, Inc. (AMZN) Message Board

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

AMZN 221.24

-0.6%

Dec 17 3:59 PM EST

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To: M. Frank Greiffenstein who wrote (19417)	10/1/1998 12:19:00 PM
From: Rob S.	Read Replies (1) of 164684

I think that makes sense - sell on any rallies now. Selling when it was bouncing off the 120 level was most lucrative but less certain. It could have punched through that level and gone on to challenge the 130-140 highs set in three previous attempts at higher ground. Now that resistance at 120 has proven to be solid and the stock has begun a downside move, I don't think it will move higher than about 110. It had several attempts to push past 120 and each failed, now with the resistance level more firmly established and the next level at 130-140 being reinforced by this lower failure, it looks increasingly likely that any rally attempt will be temporary.

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