SSS - (AMZN) Rallying up to 20-dma - Potential Short-Sale Target Following 2-up-2-down Sell Signal off Peak

Published : November 2 2011 at 9:58 ET

AMZN, which flashed a "two-up-and-two-down" sell signal on its most recent move to new highs on the weekly chart, has bounced off of its 200-dma over the past five days and looks potentially shortable here, using the 50-day moving average at around 221-222 as an ultimate upside stop. If the general market continues weakening here, particularly on the heels of today's Fed announcement, AMZN is a decent short-sale candidate given the initial sell signal on the weekly chart, as we can see below.


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