AMZN chart clearly showed a new bullish momentum is building up right now. It has cleared a major resistance at 1,800 after first broke through a falling wedge pattern. The broken resistance will be a support platform for the next leg up. A new bull run has been confirmed in March 2019. Current AMZN price is at $1,837 per share.
Possible bullish play:
- Sell put options at 1,600 for one month
- Bull put options at 1,600 and 1,550 for one month
- Covered call with 1,900 strike
- Speculative play: buy call first OTM strike at 1,850 using shortest period option; exit immediately once the strike price level has been broken