AMZN is still oversold on several indicators. "AO" oscillator printing negative green candles, bottom of cloud and BB, stochastics low on 30 min, 1 day and 1 week charts. Looking for a bounce to $117-125 a buy on pullbacks and sell on rallies
I have bought AMAZON at 108, should I sell it at 125 a share as first P T? Is that what you meant in your description? Thanks
ShortSeller76
⋅
@mbelasy hello. I doubt $125 but anything possible. The target 1 is $117. Target 2 is $121 on Fibonacci. Remember we’re in a bear market……. $125 unlikely good luck
4baf2fb7559242d7a01e34fca9796a
⋅
Useful information, what’s your play. If options, what the expiry date you are looking into?
ShortSeller76
⋅
@4baf2fb7559242d7a01e34fca9796a, hello this is not simple to answer as it depends on your personal strategy and timeframe. I have recently bought (and sold) both the July 1st and August 1st calls. When the stock is $107 ish I generally buy near the money calls so $108 and $110 calls. I have no position now closed out today. I don't like holding my options more than a couple days due to decay. Might play again on a pullback or might go short, havent looked at charts too closely today. GL
ShortSeller76
⋅
@4baf2fb7559242d7a01e34fca9796a, AMZN looks like it still has plenty of room to run to the upside. If I trade it again will likely be a day or two trade only if it sinks or spikes too much
@4baf2fb7559242d7a01e34fca9796a, happy to help. Options can be tricky with Theta / decay. I've traded for 17 years but new to options as of last October, I feel I am getting pretty good with them but strive to get out of them ASAP. If you're looking for larger moves 4 to 6 weeks out seems to be ideal, if you want scalps 7-12 days out works great. I always do right near/ at the money, there are other strategies people with more experience than I have can make good money on buying way out of the money. GL