AMZN 489.70-bullish- Posts new record highs

AMZN surged from the 285.25 YTD low (January 12, 2015) through the 408.06 2014 peak to post a new record high at 493.20 Monday (July 20, 2015), a 73% YTD return. Overbought technical indicators suggest caution for pullbacks. Further gains would open the 525.09 then 532.12 projection targets (as shown on the weekly chart). The near-term support lies at 447.54 (July 13, 2015 weekly low) near the 10-week moving average.
Outlook:
Short term: bullish
Long term: bullish