Tuesday, 27 March 2012

AMZN - breakout

AMZN broke out of its triangle 5 days ago, today confirmed that move, and we now have a clear break.

AMZN, daily

AMZN's next key level is 220/225. That looks attainable within 2-4 weeks. The underlying problem remains, what will earnings be? AMZN profit margins are so very thin, can it put in better numbers, or will this burst upward merely be a great place for a short-trade?

It does remain a very risky stock to short, and today's action certainly caused more trouble for those short the stock.

AMZN is the stock I am most curious about for next earnings quarter.