Amazon.com (AMZN) Could Make Another Run at Yearly Highs

05/04/2010 12:01 am EST

Focus: STOCKS

Tim Bourquin

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

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:


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, MoneyShow.com

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