Stock Trade Ideas for Tuesday, June 12th - Amazon.com (NASDAQ:AMZN)

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Arena Pharmaceuticals ARNA hit a new 52-week high today, and its chart is indicating that there may be more upside. The stock is still trading above all its key DMAs which are pointing upwards. In addition the Accum/Dist indicator continues to trend north and MACD above 0. The Parabolic SAR also continues with its buy signal. Pullbacks should be used to enter into the stock.

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eBay Inc EBAY has been resilient in the recent carnage. The stock is in strong hands and a close greater than $42 will trigger more upsides. The 39 level is the stop loss from a short term perspective and stock can be accumulated in declines. Upsides resistance zones are 41.4, 41.84 and 41.96.

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Zynga Inc ZNGA closed near the 52-week low of 5.51 it hit last week. A move below this key support level should lead to further selling potential for the stock. MACD is negative and the Parabolic SAR continues with its sell signal. Bearish, no signals of turn.

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Skechers USA Inc SKX - Shares hit a new all-time high. Will watch tomorrow for continuation. Good looking chart.

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Shares of Amazon.com, Inc. AMZN are at a critical level in its recent uptrend. A convincing close above 221 will give it room to go for the recent high of 233. Long positions can be taken with a stop loss at 202 which should be used considering the overall bearish market sentiment.

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Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

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AC

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