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Trade Idea - AMZN

MensagemEnviado: 21/2/2008 23:16
por AC Investor Blog
Amazon shares lost 5 percent of their value on today session with high volume. In a Form 4 filed with the SEC, Jeffrey P. Bezos reported he sold 1.85 Million shares for $73.21 apiece on Friday, causing some panic on investors, which generally is not a good news for market and shareholders. The technical chart shows weakness as the stock is trading below major moving averages. In addition, MACD is losing ground and is approaching of the sell signal. Another negative indicator is KD where K line is below D line which could mean more share price decline. First support is now at $67.22.