Amazon is currently trading in a tight range after a sharp intraday move. Price attempted to push higher but has been rejected multiple times around 245.90–246.10, making this the key resistance zone to watch.
📈 Bullish Scenario
If buyers reclaim 246.10 with strong volume and the candle closes above resistance, I will look for continuation toward:
* 246.50
* 247.00
* 248.00 if momentum accelerates.
Confirmation:
* Price above VWAP
* 9 EMA above 20 EMA
* Increasing volume
📉 Bearish Scenario
If price continues rejecting this level and volume begins favoring sellers, I expect a pullback toward:
* 245.00
* 244.60 (support)
* 244.00 if selling pressure increases.
Trading Plan
I’m waiting for confirmation rather than predicting direction. A breakout with volume favors longs, while another rejection at resistance could provide a short opportunity. Patience is key—I’ll let price show its hand before entering.
📈 Bullish Scenario
If buyers reclaim 246.10 with strong volume and the candle closes above resistance, I will look for continuation toward:
* 246.50
* 247.00
* 248.00 if momentum accelerates.
Confirmation:
* Price above VWAP
* 9 EMA above 20 EMA
* Increasing volume
📉 Bearish Scenario
If price continues rejecting this level and volume begins favoring sellers, I expect a pullback toward:
* 245.00
* 244.60 (support)
* 244.00 if selling pressure increases.
Trading Plan
I’m waiting for confirmation rather than predicting direction. A breakout with volume favors longs, while another rejection at resistance could provide a short opportunity. Patience is key—I’ll let price show its hand before entering.
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.