Amazon: Great breakout (but overbought near-term).

In this CNBC interview from yesterday (Wednesday, February 12th), I (along with one other guest) talked about several stocks that are now trading over $1,000. One of them...Autozone (AZO)...is getting oversold, but it's also testing a very important support level, so any downside follow-through (either now or after a short-term bounce) will be very negative for the stock......On the flip side, Amazon (AMZN) is becoming quite overbought, so it's probably due for a short-term pull-back. HOWEVER, it's recent break-out bodes very well for the stock...and should help it play catch-up on an intermediate-term basis...after underperforming the broad market for much of the 4th quarter of last year.

Posted to The Maley Report on Feb 13, 2020 — 2:02 PM
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  • {[comment.author.username]} — Marketfy Staff — Maven — Member
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