Amazon Buying Dip

[robertbanking]

Hello you very wonderful and amazing individuals that make up this forum, i truly hope you are doing well and keeping happy.

I was kindly wondering with Amazon stock dipping i was looking at making a small purchase after further reviewing a few Annual Reports, management background and looking into the wider market share it has. I know there is technical indicators that help you gauge when a stock is in a long term trend like Moving Averages and MACD. However i kindly wondered for trying to have better entry points, if there was an indicator a stock may move higher before it crosses over certain Moving Averages, like an increase in volume, hitting a support level for instance please? If anyone kindly had any thoughts on this i would be forever grateful and thankful for your support it would mean the world to me.

Thank you very much for all the amazing people on these forums who share very insightful posts and are all round wonderful people. Sending you lots of good wishes and i truly hope you become massively successful with your investing. Take very good care and all the very best to you.

[DuncanM]

Firstly, AMZN has a PE of 43.08, Fwd PE of 33.89 and a PEG of 2.32. What makes you think they are a buy?

With respect to technicals, in July it broke its short term up trend from October 23. Although it made a new high following the US Elections it is pretty unconvincing. IMHO it is currently trading a range between 180 to 200 and I expect it will fall back to that range in the short term.

If you are looking for an entry point, a bounce off 200 might give you some support in that area otherwise wait until it gets nearer 180/185.

Personally, I am quite bearish on the Magnificent 7 from a valuation perspective and am amazed people are still driving them higher. Remember they were 150 as recently as August and could easily return there.

[chas49]

Moderator Message:
I note this is response to an intial post over a year earlier - so it's probably not worth continuing discussion here. Topic locked now. Thanks (chas49)