(AMZN) Could Make Another Run at Yearly Highs

05/04/2010 12:01 am EST


Tim Bourquin

Co-Founder, The Traders Expo and The Futures & Forex Expo

I’ve been an (AMZN) bull for a few years. The holiday shopping trade from early-November to mid-December has always worked out nicely, and the company continues to impress me with its variety of “cloud computing services,” which I believe is setting up to lead the next wave of technological innovation.

It’s been pounded a bit in the last week, as you can see here:

Click to Enlarge

However, with the 50-day moving average (the blue line) firmly underneath to act as support, the fundamentals and technicals may combine to give AMZN another run at yearly highs.

Disclaimer: I do not currently own any shares of AMZN.

By Tim Bourquin, trading content director,

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on STOCKS

Keyword Image
Visa: Innovation in Payments
2 hours ago

It is hard to find a more consistent company than Visa (V); payments volume grew 11% in its fourth f...