AMZN Testing Critical Resistance! Will Bulls Take Control?
📊 Market Structure Overview:
* AMZN is currently recovering from a recent pullback and is forming a higher low, indicating potential bullish momentum.
* Price is attempting to break out of a descending trendline, showing signs of strength.
* Strong resistance is visible near $235, while $230 and $228 serve as key support levels.
🔍 Key Levels to Watch:
* Resistance Levels:
* $235 → Key level for bullish continuation.
* $240 - $242.50 → Major breakout target.
* Support Levels:
* $230 → Retest zone; holding above supports a bullish case.
* $228 → Strong demand zone for dip buyers.
* $222.50 → Last support before a larger breakdown.
📈 Indicators Analysis:
* MACD: Bearish crossover forming, suggesting a possible pullback before continuation.
* Stochastic RSI: Cooling off from overbought conditions, indicating potential consolidation before another push up.
📌 Price Action Insight:
* AMZN needs to hold above $230 for bulls to maintain control.
* A clean breakout above $235 with volume can push AMZN toward $240-$242.
* If price fails to hold $230, expect a retest of $228-$222.50.
📊 Options Flow & GEX Analysis for AMZN
🔍 Gamma Exposure (GEX) Zones:
* Bullish Gamma Wall at $235 → Indicates strong call resistance.
* Bearish Gamma Support at $222.50 → A critical level where put support increases.
📉 Option Flow Insights:
* CALL positioning: 13.3% of options flow is on the call side.
* IV Rank: 12.5 (relatively low volatility, favoring premium sellers).
* Put walls at $227.50 and $220 → Market makers could defend these levels.
🛠️ Trade Setups:
1️⃣ Bullish Play:
* Entry: Above $235 with volume.
* Target: $240-$242.
* Stop-loss: Below $230.
2️⃣ Bearish Play (Rejection at $235):
* Entry: Short below $233 rejection.
* Target: $228-$222.50.
* Stop-loss: Above $236.
Final Thoughts 💭
* AMZN is at a key inflection point and needs confirmation above $235 for bulls to dominate.
* If $230 fails, a deeper pullback is possible.
* Options data suggests a battle between call buyers at $235 and put support at $222.50.
🚨 This analysis is for educational purposes only and does not constitute financial advice. Always do 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.