Amazon's Chart Shows Hesitation

In October, Amazon (AMZN) broke from a pattern it had been trading in since the beginning of the year, a pattern of four-month periods of triangular consolidation followed by 33-point gains.

AMZN Weekly View Chart » View in New Window »

The breakdown from the most recent rising triangle held after the stock price retraced 50% of its 2012 advance and formed a weekly hammer candle on the 200-day moving average. It has since rebounded back up to the 50-day moving average, and today's high retested the former breakdown level. The technical indications on this time frame remain positive....294 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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