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Eye on Amazon & Apple


Wednesday March 7th, 2012
Eye on Amazon & Apple
by Mike Paulenoff www.MPTrader.com

With all of the anticipation of Apple (AAPL)'s iPad 3 unveiling today and perhaps a Kindle-killer product as well, it is very interesting to notice that Amazon (AMZN) is holding up extremely well, as its multi-month base pattern continues to develop and strengthen.

As long as 177-175 support contains any forthcoming weakness, the onus will be on the bears to prevent AMZN from hurdling key resistance between 183.50 and 184.80, which should trigger a potentially explosive short-covering panic-type of thrust.

An interesting session to be sure, as AAPL and AMZN are the focus of the technology sector today.

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