Big Gains for Amazon.com Inc (NASDAQ: AMZN) Says Market Timer Frank Kollar
June 2, 2009 (FinancialWire) (By Frank Kollar)
Shares of the Amazon.com Inc (NASDAQ: AMZN) are again approaching their 2008 highs at $88.00 a share. Amazon.com rallied 6.7% on Monday.
Currently at $83.24 a share, Amazon.com pulled back in May closing at below $74 on May 15, but since those lows, shares have moved steadily higher.
This is the second attempt to break out to new highs and odds are good Amazon.com will finally make it.
If $88.00 is 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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