Gap Fill Warning on Amazon (AMZN)

Amazon (AMZN) has had a stellar run since it’s March 2009 lows and really kicked it into high gear last October leaping about 20% in one day and continuing it’s run over $150 a share at it’s peak in April. This stock has maintained it’s status as a market leader, unfortunately it has been leading the market down. Amazon (AMZN) Daily Chart Having lost aroun 30% from it’s peak, Amazon (AMZN) has now violated key support around $116 a share and poses a real threat of a gap-fill scenario. This means that there is very little support between current levels and...

Written by Jordi Perez. Go to www.MarketSpaceTrading.com to get newsletter updates by email.