AMZN: Eyeing 240 After a Healthy Pullback – Swing & Scalp Sep 17Amazon.com, Inc.BATS:AMZNBullBearInsights1-Hour Chart Technical View Amazon’s 1-hour chart shows a well-defined rising channel after breaking out from a mid-September base near $226. The stock tagged $234 and is now easing off slightly—a normal pullback inside a fresh uptrend. MACD momentum is flattening but still positive, and Stoch RSI is cooling from overbought levels, signaling a short-term breather rather than a trend change. * Immediate Support: $232.5 and $231.4 (key intraday demand) * Major Support: $226.3 HVL (Sept 19 zone) * Upside Zone: $237.5 to $240 is the near-term target area; a breakout could carry to $242.5–$245 The 9 EMA remains above the 21 EMA, confirming bullish structure as long as $231.4 holds. GEX & Options Flow Options positioning shows constructive call-side pressure: * Call Walls: $237.5 (3rd call wall), $240 (highest positive NET GEX / gamma resistance), then $242.5–$245. * Put Support: $222.5 and $217.5 mark major downside hedges. * GEX Bias: Positive gamma with 25.4% calls and IVR at 8.8 (IVx ~31.3) indicate moderate premium costs and a controlled upward bias. This configuration generally encourages dip-buying and limits sharp downside unless $231 gives way. Trade Thoughts & Suggestions * Swing Idea: Buy pullbacks into $232.5–$231.4 with a stop below $230, aiming for $237.5–$240, with $242.5–$245 as a stretch target. * Scalp Idea: Focus on quick reversals near $231.4 for long entries, or scalp a breakout if $237.5 is taken out with strong volume. * Bearish Scenario: A decisive break under $230 could shift bias toward $226.3 and lower. Quick Take AMZN’s trend is firm and supported by bullish gamma. For Sept 17, dips toward $232 are attractive for intraday scalps and swing entries aiming for a retest of $240 and beyond. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk before trading.