AMZN Technical Analysis & GEX Options Trading Setup - Jan. 3
Technical Analysis:
* Trend Analysis: AMZN is consolidating within an upward channel, indicating a potential continuation of the uptrend if resistance levels are breached.
* Key Levels:
* Support: $232.20, followed by $225.85.
* Resistance: $241.77 (recent high) and $250.00 (psychological level).
* Indicators:
* MACD: Bearish divergence signals a potential short-term pullback.
* Stochastic RSI: Near overbought, suggesting momentum is waning.
* Volume: Increasing on upward moves, confirming bullish intent but needs continuation for breakout.
GEX Options Insights:
* Call Walls:
* 2nd Call Wall: $240 (88.82% gamma exposure).
* 3rd Call Wall: $250.
* Put Support:
* High Value Level: $190.
* 2nd Put Wall: $215.55 (-4.48% GEX).
* Options Sentiment: Gamma levels suggest bullish sentiment, but downside protection near $215 could attract sellers.
Trading Scenarios:
1. Bullish Setup:
* Entry: Above $240.
* Target: $250 (3rd Call Wall).
* Stop-Loss: Below $232.
2. Bearish Setup:
* Entry: Below $232.
* Target: $225.85.
* Stop-Loss: Above $240.
Conclusion:
AMZN is positioned near key resistance, and a breakout or rejection will likely define the short-term trend. Gamma exposure suggests that any break above $240 could trigger momentum toward $250. However, caution is advised near $232 support.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and trade responsibly.
* Trend Analysis: AMZN is consolidating within an upward channel, indicating a potential continuation of the uptrend if resistance levels are breached.
* Key Levels:
* Support: $232.20, followed by $225.85.
* Resistance: $241.77 (recent high) and $250.00 (psychological level).
* Indicators:
* MACD: Bearish divergence signals a potential short-term pullback.
* Stochastic RSI: Near overbought, suggesting momentum is waning.
* Volume: Increasing on upward moves, confirming bullish intent but needs continuation for breakout.
GEX Options Insights:
* Call Walls:
* 2nd Call Wall: $240 (88.82% gamma exposure).
* 3rd Call Wall: $250.
* Put Support:
* High Value Level: $190.
* 2nd Put Wall: $215.55 (-4.48% GEX).
* Options Sentiment: Gamma levels suggest bullish sentiment, but downside protection near $215 could attract sellers.
Trading Scenarios:
1. Bullish Setup:
* Entry: Above $240.
* Target: $250 (3rd Call Wall).
* Stop-Loss: Below $232.
2. Bearish Setup:
* Entry: Below $232.
* Target: $225.85.
* Stop-Loss: Above $240.
Conclusion:
AMZN is positioned near key resistance, and a breakout or rejection will likely define the short-term trend. Gamma exposure suggests that any break above $240 could trigger momentum toward $250. However, caution is advised near $232 support.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and 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.