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Another Long Position: Amazon (AMZN) at $221.60

Recs

1

June 18, 2012 – Comments (0) | RELATED TICKERS: AMZN

I doubt I'll add any additional long positions (at this point I have 6 swing-trades) but thanks to @TheTradingWife in our chat-room, she spotted Amazon.com (AMZN) and I couldn't help but take a stab at it myself. That is the benefit of trading with fellow traders because you able to feed off of each other's ideas and benefit from the groups research. 

For the trade in AMZN I am essentially taking advantage of a broken short-term downtrend, and a cup-and-handle pattern - both of which are bullish. Also, I am using a stop-loss of $214.25 and a Target of $235ish. 

Here's my Trade Setup in Amazon (AMZN).

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