AMZN has been trading within an ascending channel, showing consistent bullish momentum while approaching a critical resistance zone. This analysis outlines key levels, price action insights, and actionable trade setups for scalping and swing trades.
Market Structure & Price Action:
* Recent Trend: AMZN is trading in a clear ascending channel, with the current price testing the upper boundary near $208.
* Liquidity Zones:
* Buyers have shown strength near $205, forming a key demand zone.
* Sellers are active between $208.50 and $210, creating a supply zone.
* Volume Profile: Steady volume during the climb confirms buyer interest, but volume tapering near resistance may signal caution.
Key Levels:
1. Resistance Zones:
* $208.50–$210: Immediate resistance at the channel's upper boundary.
* $215: Next psychological resistance and prior swing high.
2. Support Zones:
* $205: Immediate support within the channel.
* $198–$200: Key demand zone and lower boundary of the channel.
Indicators:
* MACD (1-hour): Bullish crossover supports upward momentum, but the histogram shows potential weakening, signaling a possible consolidation.
* Volume: Watch for a volume spike to confirm a breakout above $210.
Trade Ideas:
1. Scalping Setup:
* Entry (Long): Above $208.50 with confirmation (bullish candles and increased volume).
* Target: $210–$212.
* Stop-Loss: Below $207.
* Short Setup: If rejected at $208.50, short below $207 targeting $205, with a stop above $209.
2. Swing Trading Setup:
* Bullish Case:
* Entry: On a breakout above $210.
* Target 1: $215.
* Target 2: $220.
* Stop-Loss: Below $208.
* Bearish Case:
* Entry: Short below $205.
* Target 1: $200.
* Target 2: $198.
* Stop-Loss: Above $206.
Game Plan for the Week:
1. Monitor price action around $208.50–$210 for signs of a breakout or rejection.
2. Use lower timeframes (5-min, 15-min) to refine scalping entries.
3. A breakout above $210 could signal strong bullish momentum toward $215, while failure to hold $205 may lead to a retest of $200.
Thoughts & Outlook: Amazon’s current trajectory within the ascending channel indicates strong bullish sentiment, but the stock faces significant resistance at $210. Traders should watch volume and momentum for confirmation before entering trades. A breakout could lead to a strong upward move, while a pullback would present opportunities near lower support levels.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and trade responsibly. Trading involves risk.
Market Structure & Price Action:
* Recent Trend: AMZN is trading in a clear ascending channel, with the current price testing the upper boundary near $208.
* Liquidity Zones:
* Buyers have shown strength near $205, forming a key demand zone.
* Sellers are active between $208.50 and $210, creating a supply zone.
* Volume Profile: Steady volume during the climb confirms buyer interest, but volume tapering near resistance may signal caution.
Key Levels:
1. Resistance Zones:
* $208.50–$210: Immediate resistance at the channel's upper boundary.
* $215: Next psychological resistance and prior swing high.
2. Support Zones:
* $205: Immediate support within the channel.
* $198–$200: Key demand zone and lower boundary of the channel.
Indicators:
* MACD (1-hour): Bullish crossover supports upward momentum, but the histogram shows potential weakening, signaling a possible consolidation.
* Volume: Watch for a volume spike to confirm a breakout above $210.
Trade Ideas:
1. Scalping Setup:
* Entry (Long): Above $208.50 with confirmation (bullish candles and increased volume).
* Target: $210–$212.
* Stop-Loss: Below $207.
* Short Setup: If rejected at $208.50, short below $207 targeting $205, with a stop above $209.
2. Swing Trading Setup:
* Bullish Case:
* Entry: On a breakout above $210.
* Target 1: $215.
* Target 2: $220.
* Stop-Loss: Below $208.
* Bearish Case:
* Entry: Short below $205.
* Target 1: $200.
* Target 2: $198.
* Stop-Loss: Above $206.
Game Plan for the Week:
1. Monitor price action around $208.50–$210 for signs of a breakout or rejection.
2. Use lower timeframes (5-min, 15-min) to refine scalping entries.
3. A breakout above $210 could signal strong bullish momentum toward $215, while failure to hold $205 may lead to a retest of $200.
Thoughts & Outlook: Amazon’s current trajectory within the ascending channel indicates strong bullish sentiment, but the stock faces significant resistance at $210. Traders should watch volume and momentum for confirmation before entering trades. A breakout could lead to a strong upward move, while a pullback would present opportunities near lower support levels.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research and trade responsibly. Trading involves risk.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.