Amazon.com (AMZN)
surged over 24 percent today after announcing better than expected
earnings. AMZN is up over three fold since August 2006, but is the
current upside sustainable?
The following price chart shows a very steep upside that faces
resistance in the low $90 range. If the the stock should continue
to climb beyond that level, it would challenge its all-time highs
set during the 1998 - 1999 price bubble.
Be cautious if you plan to buy the stock at these lofty prices
because investors got burned buying at similar prices in 1998 and
1999.
Related Articles:
Price Patterns - A Bubble
Top Is an Extreme Pattern
Price Patterns
- Resistance Levels Are Barriers to Price Upsides
Price Upsides
Often Occur in Three Stages
Posted July 25, 2007.
|
