AMZN, FCX, POT, V

AMZN was recently trading at their highs. Right now, RSI is saying things are a bit on the bearish side. Since the gap up, volume has been stronger on AMZN. Good sign that traders want to trade this stock. However, the past 2 months, there is greater selling action than buying.

AMZN doesn't always fill their gaps to the upside, so this bodes well for this stock. Right now it's in the 50 EMA, sitting pretty. If I were to trade this, I'd bracket trade this, as I'm not sure which direction it's going to go in. I'd go bullish in the 131 area and bearish around 124. Cost stops for both would be using the the 10/20 EMA.


For FCX on this monthly chart, 95 is an area of a possible resistance. My gosh. Look at the fairly linear pattern of 2009 in the bullish direction!!! Gosh, gorgeous. However, as we look at volume, bullish volume is weakening as the price action continues to move up. MACD looks like it's starting to level off. RSI is still trending up.

When I traded this stock in the 2007/08 timeframe, it was just all over the place. The traders have been VERY cohesive in the past year for FCX.

For POT, bullishness isn't super strong, but the fact it's doubled in price nearly in 2009 is a good thing. The moves aren't as strong as in 2007/08 with the huge move up and huge move down. There is still a lot of room to make money.

Right now it's hitting its head at the 61.8% retracement. It could break through, but volume says it's weakening. However, MACD is looking to be more bullish. RSI says we're in for a slow uptrend.

For V (Visa), we are at resistance. Let's see what happens here. Will it break out or come tumbling down? In December, there was a lot of buying action and traders were able to push the stock up to at least the highs, but not beyond that. The past month, it's really not be doing anything.

You could poise yourself for a breakout either to the upside or downside and trade that. Bullish for above $90. Bearish for below $85.
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