November 7, 2017 | Dragging Four Defenders a Few Extra Yards

I’ve left my wild-eyed projections for some FAANMG stocks listed below unchanged, since the group shows no sign of slowing down. Even when these stocks are merely marking time they always make a little headway, like a running back grinding out a few extra yards with four defenders on his back.  AMZN, for one, seems incapable of retracing its steps for more than a few days as it moves, hell-bent, toward the 1181.56 target shown (click on inset). Given the way buyers blew past the 1056.66 ‘midpoint Hidden Pivot,’ it is almost unimaginable that they won’t make it to the higher number.  Meanwhile, corrections have been too shallow to allow us to get aboard ‘mechanically,’ leaving us with the work-intensive task of attempting it on charts of lesser degree (i.e., ‘camouflage’), or taking position overnight ahead of the all-too-frequent gap-up openings.  With or without us, though, and come hell or high water, this stock is headed to at least 1181.56.

Rick Ackerman November 7th, 2017

Posted In: Rick's Picks

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