Where Is Amazon Stock Headed? Options Market Offers Vital Clues Amid Rate-Hike Jitters
Portfolio Pulse from Bhavik Nair
Amazon.com, Inc. (NASDAQ:AMZN) shares closed 1.55% lower on Monday, but have gained over 48% since the beginning of the year. The options market outlook indicates resistance at $130 and support at $125, with traders maintaining caution on bets involving Puts.
June 27, 2023 | 9:43 am
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Amazon's stock closed 1.55% lower on Monday, but has gained over 48% YTD. Options market outlook indicates resistance at $130 and support at $125.
The options market outlook provides an insight into the potential short-term movement of Amazon's stock. The resistance at $130 and support at $125 indicate that the stock may trade within this range in the short term. However, any major news or macro event could lead to significant movement in stock prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100