SSS - AMZN approaching 50-dma; Price Targets Shaping Up

Published : October 3 2011 at 13:07 ET

AMZN is currently approaching its 200-dma at 211 and change. A break through this moving average brings the 204.47 low of early September into play, with potential to clear to the 200-dma or further, taking into consideration the mid-August low at 177.10 as a secondary downside price target if it keeps going. So far the general market seems to show a pattern of systematic distribution into ralliies that is carrying over from last week.

Other price targets from earlier today re: AAPL and CMG are still in force.

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