Sarmad,
Fundamentally and Technically, AMZN is in a DOWNTREND. Look at the chart...trendline is down and not yet broken. Stochastics is oversold, so I would not be surprised for an up Monday, a short-term uptrend. MACD is negative, validating the downtrend.
I do not give into the hype about AMZN is great, analyst upgrades (they do this to take your money, they will not give it back later either), Q1 promises, business plan, etc. I look at the charts: people have been selling into the rallies and are pissed they bought at $199 to see it fall to $84 in a matter of weeks--which can take a toll on people's emotions.
Unless AMZN can get past $110 to $115 and sustain it for several days, DOWN, DOWN, DOWN! If it can break the trend, load up for the intermediate move of $140 to $150.
I have ordered some books from them before, somewhat not happy with the slow service, but their customer support was good. Folks, they sell books and CDs, low margins, just got into the business first. Story of many businesses that both are still successful and some no longer in business. Time will tell.
Rob
P.S. I have not lost any money in AMZN (yet). |
