📊 Market Breakdown
AMZN is trading at $222.69, having just broken out of the Golden Fib Zone ($211–$224) after bouncing off the equilibrium (~$206). The breakout puts price on track to test the Premium/Supply Zone ($242.88), but RSI at 56 shows there’s still gas left before hitting overbought territory.
Trend: Strong recovery rally from $161 lows, now riding an ascending channel.
Key Structure: Fib 0.786 retracement level ($224) now being tested; a clean hold here is bullish.
Volume: Breakout volume modest, meaning we still need confirmation from buyers.
Indicators:
MACD: Bullish crossover intact.
RSI: 56.36 – mid-range, plenty of upside potential.
🛒 CALLS (Bullish Scenario)
Buy Zones:
🎯 Aggressive Entry: Retest of $218–$220 support (Fib 0.786 area)
✅ Confirmation Entry: Daily close above $224 with increased volume
Take Profits:
1️⃣ $230 – Minor resistance
2️⃣ $242 – Premium/Supply Zone top
3️⃣ $250 – Channel extension target
Stop-Loss: $216
Why This Works: Holding above the Golden Fib Zone opens the path to supply at $242+ within 2–3 weeks.
🛑 PUTS (Bearish Scenario)
Sell Zones:
🚨 Aggressive Entry: Rejection at $224 resistance
📉 Breakdown Entry: Daily close below $216
Take Profits:
1️⃣ $206 – Equilibrium zone
2️⃣ $190 – Mid-channel support
3️⃣ $161 – Discount/Demand Zone
Stop-Loss: $227
Why This Works: A failed breakout with a close below $216 flips short-term momentum bearish, targeting $206 and possibly $190 in 1–2 weeks.
🔍 Technical Highlights
Golden Fib Zone: Price broke above but needs a retest hold for confirmation.
Supply Zone Test Ahead: $242 is a strong resistance area.
Macro Watch: AMZN often follows consumer spending & retail sales data; keep an eye on macro news.
⏳ Option Expiration Strategy:
1 Week: Rejection at $224 for quick puts
2–3 Weeks: Breakout holding $224 for calls toward $242
AMZN is trading at $222.69, having just broken out of the Golden Fib Zone ($211–$224) after bouncing off the equilibrium (~$206). The breakout puts price on track to test the Premium/Supply Zone ($242.88), but RSI at 56 shows there’s still gas left before hitting overbought territory.
Trend: Strong recovery rally from $161 lows, now riding an ascending channel.
Key Structure: Fib 0.786 retracement level ($224) now being tested; a clean hold here is bullish.
Volume: Breakout volume modest, meaning we still need confirmation from buyers.
Indicators:
MACD: Bullish crossover intact.
RSI: 56.36 – mid-range, plenty of upside potential.
🛒 CALLS (Bullish Scenario)
Buy Zones:
🎯 Aggressive Entry: Retest of $218–$220 support (Fib 0.786 area)
✅ Confirmation Entry: Daily close above $224 with increased volume
Take Profits:
1️⃣ $230 – Minor resistance
2️⃣ $242 – Premium/Supply Zone top
3️⃣ $250 – Channel extension target
Stop-Loss: $216
Why This Works: Holding above the Golden Fib Zone opens the path to supply at $242+ within 2–3 weeks.
🛑 PUTS (Bearish Scenario)
Sell Zones:
🚨 Aggressive Entry: Rejection at $224 resistance
📉 Breakdown Entry: Daily close below $216
Take Profits:
1️⃣ $206 – Equilibrium zone
2️⃣ $190 – Mid-channel support
3️⃣ $161 – Discount/Demand Zone
Stop-Loss: $227
Why This Works: A failed breakout with a close below $216 flips short-term momentum bearish, targeting $206 and possibly $190 in 1–2 weeks.
🔍 Technical Highlights
Golden Fib Zone: Price broke above but needs a retest hold for confirmation.
Supply Zone Test Ahead: $242 is a strong resistance area.
Macro Watch: AMZN often follows consumer spending & retail sales data; keep an eye on macro news.
⏳ Option Expiration Strategy:
1 Week: Rejection at $224 for quick puts
2–3 Weeks: Breakout holding $224 for calls toward $242
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.