My Trade Details:
- AMZN Sep 2 2022 140 Put near $3
- Stop : Close above $146
- Target : $133
Bullseye Pick Of The Week – AMZN - Bullseye Pick of the Week
Bullseye Pick Of The Week – AMZN
AMZN has been trying for over a week to get through the 200-day moving average, but to no avail. Since that has been such a tough spot to get through, I am going to use that as my stop on this trade. That would be AMZN closing above $146.
Since I am betting against AMZN this week, I am looking for a move lower in the stock. My profit target will be $133 which is the midpoint of the Keltner channel.
It is going to be an exciting week for the markets so make sure you are ready to go!