Amazon (AMZN) in a Reversal Zone! Key Levels to Watch!

📉 Price Action & Market Structure
AMZN has been in a downtrend, forming lower highs and lower lows within a descending wedge pattern. However, recent price action indicates a reversal zone, suggesting potential relief or a breakout attempt.

📊 Key Levels
* Support: $190 - $185 (Put Support & Demand Zone)
* Resistance: $200 - $212 (Call Wall & Gamma Resistance)
* Breakout Level: $220 (Major Resistance & Positive GEX Zone)

🟢 Bullish Scenario
* A breakout above $200 may push AMZN towards $209-$212, aligning with the highest call wall.
* If momentum sustains, a move toward $220 is possible.

🔴 Bearish Scenario
* Failure to hold $190 could lead to retesting $185 - $180, aligning with the negative GEX zone and put support.
* If broader weakness continues, downside targets extend toward $175 or lower.

📈 Indicators & Momentum
* MACD: Turning bullish, but needs confirmation.
* Stoch RSI: Near overbought, suggesting a pullback or sideways action before continuation.
* GEX Data: Call dominance above $200, strong Put Support at $185, showing market positioning dynamics.

📢 Trade Plan & Summary
* Bullish Above: $200
* Bearish Below: $190
* Scalping/Swing Levels:
* Buy dips near $190, targeting $200+
* Short below $190, targeting $185-$180

⚠️ Disclaimer: This analysis is for educational purposes only. Trade at your own risk.