AMZN has been trading within an ascending channel, displaying bullish momentum on the hourly chart. With price nearing resistance and volume showing signs of strength, here's how you can plan your trades.
1️⃣ Price Action & Chart Analysis
* Trend Channel: AMZN continues to respect a rising channel, indicating a bullish short-term structure.
* Key Levels:
* Immediate Resistance: $214.02
* Support: $209.65 and $208.74
The $213–$214 zone remains critical; a breakout could push AMZN higher, while rejection may lead to a pullback.
2️⃣ Liquidity Zones & Order Blocks
* Liquidity Zone: $213–$214, where significant seller activity might emerge.
* Order Block: The demand zone near $208.74 aligns with previous consolidation and buying interest.
3️⃣ Scalping Strategy
For short-term intraday trades:
* Entry (Breakout): Look for a breakout above $214 with increased volume. Target $216–$217 for quick gains.
* Stop-Loss: Below $213 to limit risk.
* Alternative Play: If price pulls back, enter near $209 with confirmation of support holding.
4️⃣ Swing Trade Strategy
For longer-term setups:
* Entry Option 1: Buy on a confirmed breakout above $214.
* Entry Option 2: Wait for a pullback to $209–$208 for better risk-reward.
* Targets:
* Initial Target: $217
* Extended Target: $220
* Stop-Loss: Below $207 to manage downside risk.
5️⃣ Momentum & Indicators
* MACD: Bullish crossover on the hourly chart, signaling upward momentum.
* Volume: Increasing near the resistance zone, indicating potential for a breakout.
Game Plan for Tomorrow
* Scenario 1: A breakout above $214 targets $216–$217; wait for confirmation before entering.
* Scenario 2: A rejection at $214 might lead to a pullback; monitor $209 as a strong support level for re-entry opportunities.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Always do your own research and trade responsibly.
1️⃣ Price Action & Chart Analysis
* Trend Channel: AMZN continues to respect a rising channel, indicating a bullish short-term structure.
* Key Levels:
* Immediate Resistance: $214.02
* Support: $209.65 and $208.74
The $213–$214 zone remains critical; a breakout could push AMZN higher, while rejection may lead to a pullback.
2️⃣ Liquidity Zones & Order Blocks
* Liquidity Zone: $213–$214, where significant seller activity might emerge.
* Order Block: The demand zone near $208.74 aligns with previous consolidation and buying interest.
3️⃣ Scalping Strategy
For short-term intraday trades:
* Entry (Breakout): Look for a breakout above $214 with increased volume. Target $216–$217 for quick gains.
* Stop-Loss: Below $213 to limit risk.
* Alternative Play: If price pulls back, enter near $209 with confirmation of support holding.
4️⃣ Swing Trade Strategy
For longer-term setups:
* Entry Option 1: Buy on a confirmed breakout above $214.
* Entry Option 2: Wait for a pullback to $209–$208 for better risk-reward.
* Targets:
* Initial Target: $217
* Extended Target: $220
* Stop-Loss: Below $207 to manage downside risk.
5️⃣ Momentum & Indicators
* MACD: Bullish crossover on the hourly chart, signaling upward momentum.
* Volume: Increasing near the resistance zone, indicating potential for a breakout.
Game Plan for Tomorrow
* Scenario 1: A breakout above $214 targets $216–$217; wait for confirmation before entering.
* Scenario 2: A rejection at $214 might lead to a pullback; monitor $209 as a strong support level for re-entry opportunities.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Always do your own research and trade responsibly.
Trade active
1. Current Price Action:
• The current price is around $217.80, and it has shown some consolidation after a move up.
• The price seems to be holding above a support level near $215.98 (likely aligned with a short-term moving average or previous low).
2. Volume:
• The volume bars are gradually decreasing, indicating a potential reduction in buying momentum. If selling pressure increases, it might lead to a pullback.
3. MACD:
• The MACD appears to be curling downward, suggesting bearish momentum might be starting to build. This can support the idea of a pullback.
4. EMA (Exponential Moving Average):
• The price is above the EMA lines, which could act as dynamic support. A break below these EMAs might accelerate a move toward $210.
5. Key Levels:
• Support at $215.98: If the price breaks this level, the next significant support might be near $214.34 (the recent low).
• Target Level of $210: This is a broader support zone and might be tested if sellers dominate.
Likelihood of a Pullback to $210?
• If $215.98 is breached: A move toward $214.34 is possible. A continuation of selling pressure could bring $210 into play.
• Key catalyst or news: Any negative news or market sentiment shift could accelerate this pullback.
What to Watch:
• Break below $215.98: Confirm if selling pressure increases.
• Volume spikes: Look for increased volume with bearish candles, indicating strong selling.
• Overall market sentiment: If the broader market is weak, it may drag AMZN down further.
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.