AMZN April 22, 2009 Forecast and Actual Price Action

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INITIAL FORECAST: AMZN 04.22.2009

Extreme Upper Bound: $86.69
Upper Bound: ~$84
Current Price: $81.27
Lower Bound: $65
Extreme Lower Bound: $57.08

HIGHLIGHTS:

1. Bearish bias: Extreme Upper bound is only ~$5 above the current price, whereas Extreme Lower Bound is ~$23 below the current price.
2. Extreme Upper Bound: $86.69 derived from the previous peak.
3. As shown in Chart 2, AMZN peaks at $86.68 before retracing 50% of its last rally.
   

Chart 1: AMZN Initial Forecast April 22, 2009

Chart 2: ACTUAL PRICE ACTION- AMZN 04.22-05.29.2009



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