I opened
$AMZN CUSTOM 240621 CALL 150.0/CALL 167.5$ ,Weekly chart shows an overall up trend. The price action seems to be forming a continuation in the up trend. In the daily chart, a bullish pin had been form at the 20MA in the past few days. This seems to give a potential of price moving up from here. However, I have noted that the stochastic for both weekly and daily is near the oversold region. Also, the price is currently trading at the resistance level $150 to $155. Which means price may either move sideways or moves down in the coming weeks. A more safe entry is to wait for bullish pin to form and move above the resistance level. Comparing both situation, I have decided to open this trade at a longer date of expiry for the price to move up in the long term, given that AMZN is a great company.
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