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Thursday, June 24, 2010

Will it bounce!?

Shortly we should see a bounce or drown moment for AMZN. Perhaps a bounce higher could bring price back to $140 given a strong market headwind or, at least the midline of $135.
While to the downside, $110 is the low from an Oct. '09 momentum gap up, and $93-ish would be a gap fill and previous Resistance-turned-support level.
The previous two bounces were weak but it should be apparent very soon which way the crowd is leaning.

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