Looking for an option trade? Here’s my idea for Amazon ($AMZN) (March 13, 2020)AMZN
I want to look at Amazon ( NASDAQ: AMZN ). Here’s what I am really looking at with Amazon ( NASDAQ: AMZN ). I am seeing some pretty key support here over the last year or so or more at 1700.00. This is a real key level for this stock. And it has rebounded off it once again on Thursday and then up above on Friday.
So if you are looking at Amazon ( NASDAQ: AMZN ) as a stock that you want to buy this is your huckleberry right here, here’s your bogey. The stock is back up above the support level and it can run up another 15 percent. Now, that might not seem a lot but it is 273 points, that’s a long way to go, particularly if you are buying call options, if you are buying ONE call option even.
Definitely give Amazon ( NASDAQ: AMZN ) a look. This fall has been steep and deep. A big rally up and then the Coronavirus hits and this thing just got absolutely crushed so this is the kind of volatility you are having. But I think you have this kind of move coming. As long as the market stays stable I think you are going to see traders coming for Amazon ( NASDAQ: AMZN ) among other stocks, so check this out. And by the way, if it happens to run up not to 1800.00 but above 1800.00 I think you are really going to get some juice kicking in at that point.