Amazon.com, $AMZN, is starting to emerge from a base. I am taking a position for a swing trade with a stop loss below the 50-day moving average. I really like the way Amazon has been consolidating over the past five weeks. It is a little extended from the 200-day moving average, but the market has been really strong the last few four months and sometimes leading stocks don't pullback. Many traders wind up waiting for a pullback that never comes and miss the potential that comes with being in a dominant leader like Amazon.
Full Disclosure: Amazon is a stock I currently own.
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