Amazon.comLong
Good long term buy area for Amazon
Updated
Firstly I should say I am currently very bearish on the macro and expecting lower levels before bouncing next year...
However, I cannot ignore this POC level on Amazon, a lot of volume traded around here in the past, so a good chance amazon may at least hold stronger than the rest of the market if we do see more downside. Hence I am taking this as a long to hedge against some short exposure I have in the market.
However, I cannot ignore this POC level on Amazon, a lot of volume traded around here in the past, so a good chance amazon may at least hold stronger than the rest of the market if we do see more downside. Hence I am taking this as a long to hedge against some short exposure I have in the market.
Note
Closing out for 60%. Large overhead supply here.
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