Amazon.com Inc - AMZN
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November 8, 2006
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Last Trade
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$29.47
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Volume
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8,168,443
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52-Week High
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$50.00
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52-Week Low
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$25.76
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Commentary:
For today's
chart we've chosen to take a look at AMZN because the bulls have managed to
push the price of the company's shares above a medium-term resistance
level. As you can see from the chart below, the $39 level has prevented the
bulls from pushing the price higher on several occasions over the past
eight months, but today's breakout suggests that this story is changing.
Technical traders would now expect the upward momentum to continue until
the bears are able to send the price back below $39.
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Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor
Previous Chart Alerts:
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THC
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