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Tuesday, January 27, 2009

AMZN has tested its 50 day mvg. avg. too many times

AMZN has tested its 50 day mvg. avg. too many times over the last week or so. Usually this leads to the stocks breaking the 50 dma and moving down, but the volume has been low and AMZN is oversold on the stochastics. Also earnings are on Thursday and I think it might beat easily but what they forecast is something I cannot predict. I wanted to keep it through earnings but am having second thoughts given the weakness.
Looks like this one will be a last second decision. Cannot buy ,cannot short, just watching it now.

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