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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (15203)	8/30/1998 1:10:00 AM
From: Rob S.	Read Replies (1) \| Respond to of 164684

Here is a quick read on the TA: The stochastic indicator is trending down after crossing the 80 buy signal line on Wednesday when AMZN headed south. It is still in the "heart of the move" - strongly bearish. The Wilder positive/negative direction movement indicator is bearish but is nearing a peak level. This indicates that the move probably only has one or two days left before a technical bounce. External events obviously have a great influence on when this will occur. I'm anxious to see how the market reacts on Monday morning but will guess that NZMA may start to bounce as early as MON early-afternoon. The MACD bearish trend was reinforced by the recent downward movement. It is decidedly bearish and has not yet trended down to its' lower signal line where a reversal is more likely. This is a longer-term indicator. The relative strength indicator is trending down but shows a large deviation from it's moving average line and an extreme value - a sign that it may have stretched "too far, too fast". Still bearish but my read is that it confirms the idea that a bounce is likely soon. All these indicators put together are bearish, as you probably would have gueessed. I think that if we do get a bounce, it is very unlikely to go roaring back up to the 130-134 area. probably more modest - to the high 110s or low 120s. Another day or two down - maybe another big sell-off is in store for MON - and this TA and targets will need to be revised down. Whatever, take it for what it's worth!