IF THE MKT Continues to Correct , I think it's not far fetched-
A few weeks ago, I was going to suggest that AMZN could see the 400's, and I actually thought it was likely. Based on the SPX currently sitting slightly below a 2 year 61.8%, I don't see how this stock, now the upper range of a 5 year bull run has been chopped up, has not even hit the 1 year 38.2% Retracemnt yet.( $539.37). << Which is Also the 200d 540.57>>
Certainly seems likely to at least tap that one.
Below are the 1Year AMZN FIBZ & as well as the All Time Low to All Time High Retracement levels.
2015 Simple VWAP = 480 (app as I'm using a simple calculation giving equal weighting to each month-)
** p.s I wonder if AMZN will announce a split this eps, now that the Mo has dried to upside,dump sum shares on current holders- Maybe a 3:1- just a guess-
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