Is Amazon stock trapping retail traders? Is it too late?Historically, Amazon tends to experience a run-up leading into Prime Day, which could add positive momentum to the stock. There are some indications that history might, in fact, repeat itself.
The yellow line represents the 6-month anchored VWAP, while the white line shows the July highs anchored VWAP. These VWAPs are crucial as they provide a strong indication of where average buying and selling have occurred over significant time frames, acting as dynamic support or resistance levels.
I anticipate strong resistance near the August highs, as this is a level where increased supply could enter the market. To counter this, I am hoping for a tight consolidation or base formation in the $183.22 - $187.50 range, setting up for a powerful upside move.
If the price can hold within this range, it could pave the way for a retest of the August high and potentially push further up towards $200 by the end of the year.
Primeday
#swing #Tradeidea $AMZN Long over $3000 I loaded up on calls!Been trading this one for over 6 years now and still holding a position from $1800s.
FD: I am currently loading up as many calls as possible into Prime day! Every year AMZN is breaking Prime day records. And this year they even had to postpone it to meet the summer demand.
Amazon 3500 update Amazon broke out of that falling wedge, making our way back up to 3500 may not hit 3500 but with analyst unchanged PT of 3400 we can expect some good bullish runs these upcoming days. If we drop below 3075.43 we can see a move down to 2971.35. If we hold above 3075.43 we can see a move up to retest that resistance zone at 3240.00