Thursday, December 29, 2011
AMZN and BIDU target price
AMZN and BIDU both experienced stellar bullish run since November 2008, however, just like Netflix, stocks go up and down, both stocks have pulled back recently, and the magnitude of these pull backs indicate their bullish runs that lasted for 3 years are over. For AMZN, it dropped from 245 to 170, my gut feeling is that it will go sideway for sometime at around 170 price level, then go up to above 200 level, go sideway for a few months, then go down again dropping through 170 towards final price target of this down trend which is 122, I estimate the time of reaching that price target is October - November 2012. For BIDU, the chart looks uglier, it looks the price target is around 40 level in just a few months time frame.
Labels:
AMZN,
BIDU,
prediction
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