Amazon AMZN Daily - Held the gap and the trendline so far

321 5 7
And you can see that the drop in AMZN             was very sharp and yet it held the gap support just over 330 and the trendlines I placed from the May-Sep lows last year projected forward (too far, but that's another story for another time)

So, perhaps this is a rebound up to 350-360 before another leg down. Walmart is acting well and could be a sign that the retail group is ready for a bounce.

Risk 338.

Upside 355.

Last 342.90 +6.54 today or 1.94%


12:52PM EST 4/1/2014
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Hello Tim, I was looking at your time at price analysis and was wondering if you could make another chart of the DOW or S&P as the markets broke out of its sideways movement from 3/18 to 3/31 to the upside. I counted 9 days for the DOW but I dont know how to make a price target. I noticed you made a target on the DIA chart posted earlier and I was wondering how you calculated it.-thanks.
timwest MAZ4353
The price target is made by looking at the range of the price action around the entire time of the mode (from the first bar of the mode price to the last bar of the mode). Use that range as a reference to project up or down once an entire bar is above (or below) the mode. If you pull up my other charts you will see some more examples. Thanks for asking.
While I agree about Amazon Prime being a none event - meaning the $99 charge is very well tolerated by most customers, the real attack is what Google is doing against there AWS pricing. As Google pivots into this sector, watch for Microsoft as well to experience a percentage pressure. In fact the real play may be identifiying the smaller companies where they have little else to offer; i.e. RckSpace, GoGrid, etc. How much of Amazon's business is cloud, will determine the exposure the stock has.
MarketAlly MarketAlly
Here is my view:
timwest MarketAlly
Thanks for the reply MarketAlly - I didn't catch your reply until today. You made excellent points.
+1 Reply
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