Looking at Amazon and General Electric

Welcome to Karpel’s Corner. This is where I throw out my thoughts on the markets and share some of my favorite strategies. I keep it market-focused, and never miss an opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

Got to the corner late so I want to look at two stocks. The first is Amazon ($AMZN). This has been a laggard since midsummer and the stock price has been on a steady decline the last four months. Our short-term score on $AMZN is a seven  and the stock has bounced since hitting its lows last Wednesday.

There may be an opportunity to put on a defined risk bullish trade in the short-term, 50 days. I’d like to see $310 and $325 challenged to the upside. If not, expect the long-term bearish trend in the stock to continue.

Finally, General Electric ($GE) has been on a tear the last few weeks after coming off its lows. A break above $26 would be a bullish signal on the stock.

See you next time at the Corner!