Showing posts with label #AMZN. Show all posts
Showing posts with label #AMZN. Show all posts
Tuesday, August 16, 2016
Monday, August 15, 2016
Friday, August 12, 2016
Thursday, August 11, 2016
Wednesday, August 10, 2016
Tuesday, August 9, 2016
Monday, August 8, 2016
Wednesday, August 3, 2016
Tuesday, August 2, 2016
Monday, August 1, 2016
Friday, July 29, 2016
Wednesday, July 27, 2016
Tuesday, July 26, 2016
Monday, July 25, 2016
Friday, July 22, 2016
Thursday, July 21, 2016
Tuesday, July 19, 2016
Monday, July 18, 2016
Friday, July 15, 2016
Thursday, June 23, 2016
#AMZN Bias & Levels Update for Thursday June 23, 2016 by @mocktrade
I do not currently have a position nor a Strangle in AMZN ahead of the Brexit vote but I am
seeing AMZN as a definite stock
which should be hedged just in case the overall US stock market’s reaction is
bearish for equities following the Brexit vote regardless of stay or not.
What I am taking note to is while AMZN has been the strongest of the FANG stocks (especially compared
to NFLX & GOOGL) AMZN has now also
failed to breakout to new highs for more than 6 straight weeks along with
volume decreasing dramatically over the past 6 weeks as well except during the one
day AMZN sold off a bit this past
Friday.
Decreasing volume at/near ATHs is usually not a good sign for further upside with legs (or at
least is a sign for limited upside) no matter how solid a stocks fundamentals are,
which is also usually a sign odds are more in favor for a meaningful pull-back before
resuming higher.
If not for the potential of a positive market outcome following
the Brexit vote my mindset would definitely be thinking AMZN should be heading to 685s-682s
zone before making another attempt at new ATHs;
however if equities rally post the Brexit vote a AMZN bearish scenario will likely be negated and new ATHs will also be very likely, but with
AMZN struggling to make new highs
for so long (6+ weeks) on decreasing volume I would be hedging my AMZN exposure via short-term Puts if I
was currently in a Long position.
If an AMZN
bearish scenario does follow the Brexit vote and if also breaching below 682s the hedge via Puts would protect
the potential for/if AMZN started to head to the next lower target at 665s-660s zone.
If below 660s the line in sand (LIS)
for buyers would be 649s-647s zone
otherwise odds will favor a move to 630s/29s
and possibly lower.
Ethan Premock Futures & Options Strategist at Hamzei
Analytics, LLC
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