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Tuesday, May 20, 2008

Amazon.com, Inc. (NASDAQ:AMZN) Gaining Momentum

Here's a technical analysis of Amazon.com, Inc. (NASDAQ:AMZN) chart. It is gaining momentum and looks like it is going to break out soon. It gapped up strongly today and closed above 200 days simple moving average with nice volume. Prior to this, in the last two months or so, it has also printed higher lows. A close above $82.5 with good volume would be a good breakout. But you'll need to measure your risk/reward to see if you prefer to trade the breakout or wait for the pullback.

At the moment, other stocks that I'm watching closely are: BEN, UTHR, SNDK, WYNN and ACI

Earnings reporting is coming to an end soon with the retailers rounding up the loose ends this week.

Mon: Leading Indicator
Notable earnings: EXM, LOW

Tue: PPI
Notable earnings: MBT, AZO, ADI, CSUN, HPQ, HD, TGT, SKS, PVH

Wed: FOMC Minutes
Notable earnings: BJ, EV, GYMB, NTES, SOLF, CRM, PETM

Thurs: Initial Claims
Notable earnings: ARO, ANN, BKS, DKS, GME, GPS, STP, PLCE, ZUMZ

Fri: Existing Home Sales

posted by Simply Options Trader at 3:51 AM PERMALINK


2 Comments:

Blogger Kat said...

Just dropping in to say I enjoy reading your blog. Keep it up. I trade options also, on simple moving average crossovers, and some neutral strats such as straddles and strangles.

10:46 AM  
Blogger Simply Options Trader said...

Thanks JD!

7:58 PM  

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