AMZN Technical Analysis & GEX Options Trading Setup - Jan. 3

Technical Analysis:
* Trend Analysis: AMZN is consolidating within an upward channel, indicating a potential continuation of the uptrend if resistance levels are breached.

* Key Levels:
* Support: $232.20, followed by $225.85.
* Resistance: $241.77 (recent high) and $250.00 (psychological level).

* Indicators:
* MACD: Bearish divergence signals a potential short-term pullback.
* Stochastic RSI: Near overbought, suggesting momentum is waning.
* Volume: Increasing on upward moves, confirming bullish intent but needs continuation for breakout.

GEX Options Insights:


* Call Walls:
* 2nd Call Wall: $240 (88.82% gamma exposure).
* 3rd Call Wall: $250.

* Put Support:
* High Value Level: $190.
* 2nd Put Wall: $215.55 (-4.48% GEX).

* Options Sentiment: Gamma levels suggest bullish sentiment, but downside protection near $215 could attract sellers.

Trading Scenarios:
1. Bullish Setup:
* Entry: Above $240.
* Target: $250 (3rd Call Wall).
* Stop-Loss: Below $232.

2. Bearish Setup:
* Entry: Below $232.
* Target: $225.85.
* Stop-Loss: Above $240.

Conclusion:
AMZN is positioned near key resistance, and a breakout or rejection will likely define the short-term trend. Gamma exposure suggests that any break above $240 could trigger momentum toward $250. However, caution is advised near $232 support.

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and trade responsibly.