Dave Barnhart spots a potential trade in Amazon stock in under a minute. He notes a 4/8 moving-average crossover, large institutional volume, and targets a swing trade near $220 from a current price around $213.91.
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Hey there, it's lunchtime, December 3rd, Tuesday. Let's have a look for some opportunities swinging into the close for tomorrow. So first thing off the list, we're looking at Amazon here, $213.91. We're at $320 on the day, uh, bullish signals, we're above recent prints. So let's go ahead and click on Amazon, see what we get. So here on the chart, we see all of these massive prints that we are above. So 3 million from November 29th, 3.4 million, 2.7 million. And we can see back here, if I scroll out, all of these massive institutional trades. And then we've got a new one here, this 3.3 million November 29th, we mentioned that. 2/10/99, 1 million right here from yesterday. Okay, so we've got increasing volume here. That looks pretty good. We've got our 4 and 8 crossing over there. That looks pretty decent too. So what I'm looking at is if we close strong, then we've got a nice trade up to $220. So whether that, that occurs tomorrow or later in the week, we might have a nice options trade set up. Or if you're just buying the stock, it would take some profit at $220. So there you have it, a great swing trade setup in less than a minute, probably a little longer with me talking. But have a great rest of your trading day. Don't forget to like and subscribe. For more of these coming out daily. Happy trading!
