AMZN is in a downtrend. I expect it to continue and hit the lower trendline of the megaphone pattern. I see a bounce there and then I expect AMZN to go down, and down. 10 cents EPS/ qtr and > 200 PPS? You got to be kidding me. Sure, billions of $ in revenue, great traffic yada yada. It all comes down to earnings per share! Wall street is not short of pumper analysts and greedy hedge funds - so take it from me. A buy of AMZN even at this level doesn't make any sense. Sell all rallies!
Panera Bread is in a sector which is very hot right now - Speciality eatery. While I say the rally is not sustainable, I am not looking for any long term downtrend atleast at this time. Time is not ripe for a super decline for this ticker. Not yet. Right now, I am looking for a gap fill as marked. We had a down gap on the previous earnings release. The ticker jumped straight above the gap on earnings release this time. We have the 100 day EMA below the double gap and I expect it to fill it.
