Amazon.com Inc (NASDAQ: AMZN) Nearing 2008 Highs Says Market Timer Frank Kollar
April 15, 2009 (FinancialWire) (By Frank Kollar)
Shares of the Amazon.com Inc (NASDAQ: AMZN) are approaching their 2008 highs at $88.00 a share. Currently at $77.20 a share, Amazon.com has been steadily advancing since November.
Amazon.com corrected in late January but while the rest of the stock market continued lower into early March, Amazon.com began a rally that has not slowed down.
Amazon.com is past due for profit-taking, but after it ends, l ook for Amazon.com to reach those 2008 highs in coming weeks, and if surpassed, look for a run to the all time highs at $100 a share.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Amazon.com .
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
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