800-Pound AMZN Gorilla About to Meet Its Match?

EST

Amazon, the 800-pound gorilla of the securities world, is closing fast on a Hidden Pivot resistance at 1596.43 (see inset) that seems likely to show some stopping power. If this number does in fact repel the bullish herd, watch for the broad averages to top at the same time. And if the stock hits its mark at the same time the E-Mini S&Ps touch a correspondingly important target at 2809.75, you had better reef the sails. There’s an alternative target in AMZN that could come into play if 1596.43 is decisively exceeded: 1639.19.  Traders and investors should keep both of these  numbers well in mind. Of course, there’s always a chance the stock will tear right through them. if it does, then it is bears who had better get out of the way.

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John Jay March 11, 2018, 11:34 pm

AMZN has plans to enter the home mortgage market now! If ever there was a prime candidate for the Sherman Anti-Trust Act!

Oh well, as Woody Allen once said, “Not only is God dead, try getting a plumber to your house on a weekend!”

Just another Forlorn Hope I reckon!



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