📉 Price Action & Market Structure
AMZN has been in a downtrend, forming lower highs and lower lows within a descending wedge pattern. However, recent price action indicates a reversal zone, suggesting potential relief or a breakout attempt.
📊 Key Levels
* Support: $190 - $185 (Put Support & Demand Zone)
* Resistance: $200 - $212 (Call Wall & Gamma Resistance)
* Breakout Level: $220 (Major Resistance & Positive GEX Zone)
🟢 Bullish Scenario
* A breakout above $200 may push AMZN towards $209-$212, aligning with the highest call wall.
* If momentum sustains, a move toward $220 is possible.
🔴 Bearish Scenario
* Failure to hold $190 could lead to retesting $185 - $180, aligning with the negative GEX zone and put support.
* If broader weakness continues, downside targets extend toward $175 or lower.
📈 Indicators & Momentum
* MACD: Turning bullish, but needs confirmation.
* Stoch RSI: Near overbought, suggesting a pullback or sideways action before continuation.
* GEX Data: Call dominance above $200, strong Put Support at $185, showing market positioning dynamics.
📢 Trade Plan & Summary
* Bullish Above: $200
* Bearish Below: $190
* Scalping/Swing Levels:
* Buy dips near $190, targeting $200+
* Short below $190, targeting $185-$180
⚠️ Disclaimer: This analysis is for educational purposes only. Trade at your own risk.
📊 Key Levels
* Support: $190 - $185 (Put Support & Demand Zone)
* Resistance: $200 - $212 (Call Wall & Gamma Resistance)
* Breakout Level: $220 (Major Resistance & Positive GEX Zone)
🟢 Bullish Scenario
* A breakout above $200 may push AMZN towards $209-$212, aligning with the highest call wall.
* If momentum sustains, a move toward $220 is possible.
🔴 Bearish Scenario
* Failure to hold $190 could lead to retesting $185 - $180, aligning with the negative GEX zone and put support.
* If broader weakness continues, downside targets extend toward $175 or lower.
📈 Indicators & Momentum
* MACD: Turning bullish, but needs confirmation.
* Stoch RSI: Near overbought, suggesting a pullback or sideways action before continuation.
* GEX Data: Call dominance above $200, strong Put Support at $185, showing market positioning dynamics.
📢 Trade Plan & Summary
* Bullish Above: $200
* Bearish Below: $190
* Scalping/Swing Levels:
* Buy dips near $190, targeting $200+
* Short below $190, targeting $185-$180
⚠️ Disclaimer: This analysis is for educational purposes only. Trade at your own risk.
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.