Amazon.com Inc (NASDAQ: AMZN) Headed for New Highs Says Market Timer Frank Kollar
June 10, 2009 (FinancialWire) (By Frank Kollar)
Shares of the Amazon.com Inc (NASDAQ: AMZN) are again approaching their 2008 highs at $88.00 a share. Only a few weeks ago share prices reached a correction low of $73.10 a share.
Currently at $88.14 a share, Amazon.com should finally break out to new two year highs in coming days. And considering the stock market endured a 50% bear market loss during those two years, this is quite a performance.
If $88.00 is surpassed, look for a run to the all time highs at $100 a share in short order. If all time high is reached, we will write a new analysis and issue a new target price.
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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