Wednesday, July 1, 2009
AMZN - Final for July 1
Quick follow up to earlier post on AMZN.
Weak rally attempt after 2:30 low; retraced about 45-50 cents; but retested lows for the day several times, before turning up modestly at the close.
Notice how AMZN trended downwards from 10:30 am; and only into the close did it break above the downtrend lines (weakly).
Whether this means anything for tomorrow or not I don't know. It would not surprise me to see AMZN retrace 50% of the $3 drop (high to low) tomorrow; so let's look to see if it can go to +/- 83
AMZN could just as easily keep going down.