Stocks to Watch: AMZN, LNKD, PCLN

By May 23, 2013, 9:19 AM Author's Blog, Inc. (NASDAQ:AMZN) The stock chart shows a reversal day pattern on very high volumes, with the stock price closing near the lows of the day slightly above the EMA50. Stronger volumes on down days remain a concern. The technical indicators are showing signs of bearishness. The 9-day EMA has turned down and the 50-day EMA has flattened. The RSI has crossed below the 50% level, with a bearish cross of the %K line below the %D. In addition, the DI- crossed above the DI+ which is a bearish cross.

(click to enlarge)

I’m watching a possible head and shoulders top formation in shares of LinkedIn Corp (NYSE:LNKD) on daily. Momentum indicators are supporting the bearish case. In addition, insiders have been selling off enormous amounts of stock recently.

(click to enlarge) Inc (NASDAQ:PCLN) stock suffered a sell-off yesterday and closed below the psychological level of $800. The technical indicators are also a concern. The slow sto is about to drop from the overbought zone, with a bearish cross of the %K below the %D and the MACD has started to drop, indicating further weakness is likely. Next major support lies at $745.

(click to enlarge)

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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