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. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV