Amazon.com (AMZN) Could Make Another Run at Yearly Highs
05/04/2010 12:01 am EST
I’ve been an Amazon.com (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:
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, MoneyShow.com