Sell Strength on Amazon:
Amazon.com ($259.98) has a hold rating, is 4.8%% overvalued with fair value at $248.04, and a 12 months forward P/E of 117.76. Monday's share price weakness has Amazon showing a 12x3x3 weekly slow stochastic reading at 79.66 down from 82.04 last week. A close this week below its five-week modified moving average at $262.13 with Mojo falling below 80.00 will be a technical sell signal for the stock. Semiannual and annual value levels are $241.23 and $226.80 with a quarterly pivot at $255.75 and weekly and monthly risky levels at $272.17 and $282.88.
Buy and Trade Levels for Google:
Google ($759.02) has a hold rating, is 8.3% overvalued with fair value at $700.58, and a 12 months forward P/E of 17.12. Google has a 12x3x3 weekly slow stochastic reading that's rising at 76.24 from 71.87 last week so its weekly chart is not yet overbought, and stays positive with a close this week above its five-week modified moving average at $735.58. My quarterly value level is $660.40 with weekly and monthly risky levels at $783.56 and $808.04.
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.