Tuesday, January 05, 2010

Trade Entry: AMZN

I entered AMZN based on 1) the oversold stochastic reading and 2) pullback to the 50 day moving average. There is not credible chart pattern, but risk is low and the two elements listed give a slight edge.

Stop is below the moving average, around $129. The intital target is $140, followed by $145.

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