AMZN versus AAPL pairs update

11 gen 2012

I like to see trendlines break to see if that flushes out the weak holders. What I can see here is that AMZN did clearly break this long term trend and has had plenty of bad news lately. I believe this may be a low risk entry on the long-side with a definable risk (always 3 average daily ranges) and plenty of upside potential. I think AMZN is a reasonable buy here.

By: Technical Tim, Wed, Jan 11, 2012, 3:19PM EST