AMZN to Continue Chop: R 3270 / S 3110 Breakout May have to Wait

٢١ ديسمبر ٢٠٢٠

Given the flood of new IPO and New Hot Sectors (EV, Bio, or anything the HERD decided it is), money flow is less favorable to an imminent mega-cap rally for AMZN in particular. Solid support at 3110 though, with resistance at 3270. The preferred Strategy is to earn some premium decay with theta positive trades.