Friday, 11 July 2014

AMZN - ending the week strongly

Whilst the main market saw minor upside chop to end the week, there was notable strength in Amazon (AMZN, which settled higher by a very significant 5.6% @ $346. Near term outlook is bullish, and a break above the 200 day MA looks likely next week.

AMZN, daily

AMZN, weekly


So.. a strong end to the week for the world's largest online retailer.

Certainly, AMZN has seen a very strong recovery from the May low of $284.

If AMZN can break the 200 dma next week - which now looks a given, then the 370/380s will be viable by next earnings.

*I've never traded the stock, and probably never will, not least because of AMZN's bizarrely low profit margins.