AMZN = LONG @ 764.42.

I saw an Amazon prime 18 wheeler today, never knew they had a fleet of Amazon prime big rigs!
This company is just attacking every market they can. I have heard some people saying this company can be worth 2-3 trillion dollars in the years to come!!!

And just to think after the dot com collapse this company was on the brink of going no where, the stock price collapsed, but they slowly started to show themselves once and today its like they can do no wrong...
 
Well that's sux,....stopped out at $754.42. Will wait for better opportunity and probably try again assuming we don't breakdown further. I expected a bounce by now. Will move on until further notice. Thanks for playing,...
 
I will want a break above $760ish before entertaining this trade again since we are below the support line here.
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AMZN_121616.jpg

The thing that concerns me about AMZN is that it has held under that 50d MA and failed a few tests up into there. When I noticed that a few weeks back it looked a bit more like the 1-2 month correction about a year ago. You obviously see the channel line connecting the highs and it now has formed a sort of wedge that could break lower, supported by the downsloping 50d MA...Not a favorite stock of mine though and the NDX has been very tricky with a neverending series of fakeout-breakout's in recent months.
 
W.J. Feathermaker III said:
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The thing that concerns me about AMZN is that it has held under that 50d MA and failed a few tests up into there. When I noticed that a few weeks back it looked a bit more like the 1-2 month correction about a year ago. You obviously see the channel line connecting the highs and it now has formed a sort of wedge that could break lower, supported by the downsloping 50d MA...Not a favorite stock of mine though and the NDX has been very tricky with a neverending series of fakeout-breakout's in recent months.
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Agreed. When I saw the rising wedge I have AMZN the benefit of the doubt because of rising support line and several support lines being at this level. The Weekly MACD is still bullish but falling. Usually big weekly trends do not have prices fall out if the sky. They usually bounce at support. There is a major support much lower and one could argue that the rising wedge I was looking at could be a bear flag pointing lower. But with market sentiment going higher I bet it would go higher. We shall see. I agree that EMA 50 is above price and pointing lower but again that's why I expected a bounce here at support especially since it bounced at almost exactly the EMA 200 at $710.

Plan to let this one mature a bit more before we make any decisions.
 
S2007S said:
I saw an Amazon prime 18 wheeler today, never knew they had a fleet of Amazon prime big rigs!
This company is just attacking every market they can. I have heard some people saying this company can be worth 2-3 trillion dollars in the years to come!!!

And just to think after the dot com collapse this company was on the brink of going no where, the stock price collapsed, but they slowly started to show themselves once and today its like they can do no wrong...
More...
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ALSO Prime is starting their own Amazon airline and currently have 20 aircraft (Big Boeing 767-300's) in service, with plans to put 20 more (40 total) in service in the near future.
 
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