AMZN Oct. 9 — Bulls Defending Key Level, Break Toward $230

Amazon (AMZN) has maintained its bullish bias, consolidating around the $225–$226 zone after a strong impulse move from $218 support. The structure remains intact with higher highs and higher lows, supported by Smart Money Concepts (SMC) signals showing BOS (Break of Structure) and CHoCH (Change of Character) confirmations along the way.
On the 15-minute chart, AMZN recently showed a minor CHoCH near $226, suggesting a short-term pullback or liquidity grab before another possible move higher. MACD shows a bullish cross forming again after a brief cooldown, and Stoch RSI is resetting from overbought territory — both pointing toward renewed upside momentum if buyers reclaim $226.7.
On the 1-hour chart, the price is holding above the key HVL ($217.5) and consolidating under a major gamma resistance zone between $227.5–$230. The volume profile supports an ascending structure with healthy accumulation near the current levels.

Support and Resistance Levels:
* Immediate Resistance: $226.70 → $227.5
* Major Resistance (Gamma Wall): $230 → $232.5
* Immediate Support: $221.78 → $220
* Key Support Zone: $217.5 → $215

GEX & Options Sentiment (1H GEX Chart):

* Highest positive Call Gamma resides around $227.5–$230, aligning with visible resistance on the chart.
* Strong Put Support zones form near $215–$217.5, creating a gamma cushion below.
* IVR is elevated at 38.7, with Calls dominating at 38.5%, reflecting a bullish bias among traders.
* The GEX curve remains strongly positive, implying dealer hedging still supports upward pressure if AMZN holds above $222.

Trade Scenarios:
Bullish Setup:
* Entry: Above $226.7 breakout
* Target 1: $230
* Target 2: $232.5
* Stop-Loss: Below $221.5
* Rationale: Maintaining higher lows with bullish GEX and MACD momentum confirms strength for a continuation run toward gamma resistance.

Bearish Setup:
* Entry: Below $221.5 breakdown
* Target 1: $217.5
* Target 2: $215
* Stop-Loss: Above $224
* Rationale: A clear CHoCH with MACD divergence could trigger a retracement into the gamma neutral zone before buyers step back in.

AMZN remains bullish-biased as long as it holds above $222, with $230–$232.5 as the next magnet zone for liquidity and potential option-driven momentum. Watch SPY correlation closely — a breakout in indices could accelerate AMZN’s next leg higher.

Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.