Chart Analysis » AMZN http://chart-analysis.com/stocks-etfs Trend Analysis for Stocks and ETFs Thu, 18 Aug 2011 20:36:10 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Amazon (AMZN) Chart – 4/15/09 http://chart-analysis.com/stocks-etfs/2009/04/15/amazon-amzn-chart-41509/ http://chart-analysis.com/stocks-etfs/2009/04/15/amazon-amzn-chart-41509/#comments Wed, 15 Apr 2009 13:39:58 +0000 Alex F http://chart-analysis.com/stocks-etfs/?p=146 I charted Amazon (AMZN) premarket on April 15, 2009 after AMZN closed at $77.22 yesterday.

  • AMZN is at the top of its trading channel near its trend line of higher highs
  • AMZN held support on on its 10 day moving average yesterday
  • Based on premarket prices, AMZN  is heading towards its 20 day moving average
  • Williams %R for the 14 day indicator broke from overbought yesterday

Opinion = AMZN is losing momentum and is due for a move closer to its trend line of higher lows if the 20 day moving average doesn’t hold.  Support could come from its 50 day moving average and/or from its two horizontal lines I drew that mark previous short term bottoms.  The lower of those two is about to connect and that’s where I think AMZN is heading, not too far below $67.00.  I’m waiting to buy in, but not so confident yet that I’m shorting AMZN at these prices.

amzn-chart_04-15-2009

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