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Mojo Shifting for Apple, Amazon and Google

Amazon set an all time high of $274.26 on Monday versus the ValuEngine one-year price target at $281.26, which limits the upside potential. The stock is up 52.9% over the last 12 months and has a ludicrous 12 month forward P/E of 157.5. Amazon reports its Q4 quarterly results on Feb. 5 and Wall Street analysts project that the company will earn 29 cents per share. Wall Street analysts have a median price target at $290 with 12 strong buy ratings, 15 buys, 10 holds and one underperform.

The daily chart for Amazon ($272.73) shows overbought Mojo and the weekly chart profile is positive with the stock above its five-week MMA at $256.74. My quarterly, monthly and semiannual value levels are $255.75, $248.95 and $241.23 with weekly and semiannual risky levels at $284.00 and $307.64.


Google remains "three-engine" hold rated according to ValuEngine with fair value at $621.89, which makes the stock 16.3% overvalued. The stock's one-year price target is $757.57, which is below the all time high at $774.38. The stock is up 15.7% over the last 12 months and has a reasonable 12 month forward P/E of 19.0. Google reports its Q4 quarterly results on Jan. 22 and Wall Street analysts project that the company will earn $8.63 per share, up 2 cents from what was posted on Monday. Wall Street analysts have a median price target at $810 with 11 strong buy ratings, 20 buys and 10 holds.

The daily chart for Google ($723.25) shows that Mojo is declining from overbought territory and the weekly chart profile is positive with the stock above its five-week MMA at $713.15. My quarterly and semiannual value levels are $660.40 and $546.44 with a monthly pivot at $734.47 and weekly and semiannual risky levels at $771.95 and $854.04.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.
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