Amazon Pattern Still Intact

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In spite of about a month’s worth of strength, Amazon’s long-term bearish pattern still remains intact. Their earnings come out after the close on October 26th, so unless we’ve broken above the $1017 horizontal, there’s still an opportunity for a major whack-a-doodle-down on AMZN.

slopechart_AMZN

Looking at the long-term picture provides a better understanding as to how lofty this critter is. But, hey, with a P/E of only 255, it’s still a bargain, right?

slopechart_AMZN (1)

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