The Amazon.com (AMZN) Breakdown
Amazon.com (AMZN) has taken a beating over the course of the past two months after hitting all-time highs back in October. I know I've tried to trade it a couple of times with no success. The last time I tried it was when it was already well oversold, and testing the 200-day moving average. I was confident that it would bounce off of it, but boy was I wrong. It cut right through support like it was butter and I took a loss on it.
But we've seen a lot of stocks take haircuts lately, and unlike some of its counterparts, (i.e. Netflix - NFLX) this stock isn't going anywhere. In fact I would put AMZN in the same tier as Apple (AAPL) in the sense that they are cornering their market quite nicely, no one is really competing with them adequately, and they continue to expand and introduce new products and services, and new ways of just doing business in general.
Here's the Amazon.com (AMZN) Breakdown: