A few years ago I passed on Amazon (AMZN) because I didn't think that the US was getting any more literate so what could their growth possibilities be? I has no idea that they could expand their product offerings the way they did. Lately I wondered if they still had some growth left. The stock has been doing quite well as this Barchart provided chart reveals:
Barchart technical indicators:
- 64% Barchart technical buy signal
- Trend Spotter technical buy signal
- Above its 20, 50 and 100 day moving averages
- 8 new highs and up 8.77% in the last month
- Relative Strength Index 60.29% and rising
- Barchart computes a technical support level at 214.88
- Recently traded at 219.95 which is above its 50 day moving average of 208.24
Summary: Amazon (AMZN) is the leader in the Internet sales area. They should be very profitable after the new technology upgrades are in place. New investors at this level should experience an annual total return of 9% - 11% over the next 5 years.
Jim Van Meerten is a Marketocracy Master
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