Technical Analysis for Trading
* Trend Overview: AMZN continues its bullish trend, supported by a rising trendline. The price is consolidating near $231.40, testing immediate resistance. Momentum shows strength, but overbought conditions may trigger a short-term pullback.
* Key Levels:
* Resistance: $231.40 (current level) and $235.00 are critical zones for a breakout.
* Support: $228.75 and $225.94 are key levels to watch in case of a retracement.
* Indicators:
* MACD: Bullish, but momentum is tapering off, signaling potential consolidation.
* Stoch RSI: Overbought, which may lead to short-term profit-taking.
* Volume: Consistent buying interest supports the upward move. Any breakout must be confirmed by higher volume.
Gamma Exposure (GEX) Insights for Options Trading
* Key Gamma Levels:
* Positive GEX: $235.00 is the strongest resistance level, where the highest call wall resides.
* Negative GEX: $220.00 and $217.50 are critical put support zones.
* Options Metrics:
* IVR: At 52.4, options premiums are moderately high, offering opportunities for credit strategies.
* Call/Put Skew: Calls dominate at 23.6%, reflecting a bullish market sentiment.
* Actionable Gamma Zones:
* Bullish Scenario: A breakout above $231.40 could lead to rapid testing of $235.00 due to gamma-driven buying pressure.
* Bearish Scenario: A pullback below $228.75 might activate put support at $225.94.
Trade Scenarios
1. Bullish Setup:
* Entry: Break and hold above $231.40.
* Target: $235.00 and $237.50.
* Stop-Loss: Below $230.00.
2. Bearish Setup:
* Entry: Break below $228.75.
* Target: $225.94 and $220.00.
* Stop-Loss: Above $230.00.
Important Note
The market may experience volatility around key levels. Reassess price action during pre-market or intraday activity and adjust your strategy accordingly.
If you have questions or need analysis for another stock, feel free to reach out!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always trade responsibly.
* Trend Overview: AMZN continues its bullish trend, supported by a rising trendline. The price is consolidating near $231.40, testing immediate resistance. Momentum shows strength, but overbought conditions may trigger a short-term pullback.
* Key Levels:
* Resistance: $231.40 (current level) and $235.00 are critical zones for a breakout.
* Support: $228.75 and $225.94 are key levels to watch in case of a retracement.
* Indicators:
* MACD: Bullish, but momentum is tapering off, signaling potential consolidation.
* Stoch RSI: Overbought, which may lead to short-term profit-taking.
* Volume: Consistent buying interest supports the upward move. Any breakout must be confirmed by higher volume.
Gamma Exposure (GEX) Insights for Options Trading
* Key Gamma Levels:
* Positive GEX: $235.00 is the strongest resistance level, where the highest call wall resides.
* Negative GEX: $220.00 and $217.50 are critical put support zones.
* Options Metrics:
* IVR: At 52.4, options premiums are moderately high, offering opportunities for credit strategies.
* Call/Put Skew: Calls dominate at 23.6%, reflecting a bullish market sentiment.
* Actionable Gamma Zones:
* Bullish Scenario: A breakout above $231.40 could lead to rapid testing of $235.00 due to gamma-driven buying pressure.
* Bearish Scenario: A pullback below $228.75 might activate put support at $225.94.
Trade Scenarios
1. Bullish Setup:
* Entry: Break and hold above $231.40.
* Target: $235.00 and $237.50.
* Stop-Loss: Below $230.00.
2. Bearish Setup:
* Entry: Break below $228.75.
* Target: $225.94 and $220.00.
* Stop-Loss: Above $230.00.
Important Note
The market may experience volatility around key levels. Reassess price action during pre-market or intraday activity and adjust your strategy accordingly.
If you have questions or need analysis for another stock, feel free to reach out!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always trade responsibly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.