Amazon 2-17 (scalping + forecast)

🔥 Market Overview:
Trend: Amazon (AMZN) is in a mild pullback phase within an uptrend, testing key support levels.
Key Levels:
Resistance: $234–$236 (upper consolidation zone).
Support: $223–$225 (Supertrend support).
Indicators:
EMA 9: $229.22 (short-term resistance).
EMA 200: $225.34 (critical support).
Supertrend: $234.20 (indicating previous strength).
MACD: Bearish, with negative momentum.
RSI: 40.72 (neutral but near oversold, suggesting potential bounce).
🔥 Scalping Strategy:
🩸 1. Momentum Scalping:

Buy near: $223–$225 support level.
Target: $229–$231.
Stop-loss below: $222.
🩸 2. Breakout Scalping:

Long if price breaks above: $230, targeting $234.
Short if price rejects $230, targeting $225.
🩸 3. Range Scalping:

Sell near: $234 resistance.
Target: $225.
Stop-loss: $236.
🔥 Mid-Term Trend Forecast (1-3 Weeks):
If AMZN breaks above $230, expect a move toward $234–$236.
Failure to hold $225 support may lead to a drop toward $220–$218.
MACD remains weak, suggesting limited short-term upside unless momentum shifts.
🔥 News & Market Context:
E-commerce & AWS Growth: Long-term fundamentals remain strong.
Tech Sector Volatility: AMZN follows general market trends.
Macroeconomic Risks: Any Fed policy shifts could impact stock movement.
🔥 Decision:
🩸 Short-term: Watch for bounce near $225 or breakout above $230.
🩸 Mid-term: Weak momentum; a clear breakout is needed for a bullish confirmation.
🩸 Ideal Play: Wait for support confirmation before entering long positions.

👑 Final Verdict: Amazon is at a make-or-break level, with $225 acting as a key defense zone. Bulls need to reclaim $230 for continuation.

🔥 LucanInvestor's Quote: "The strongest positions are built when others hesitate. Patience is power."