Bullish Option Flow in Amazon.com $AMZN Off Quintuplet Bottom Test

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Bullish option flow was detected in $AMZN stock on October 17, 2022.

Bullish Option Flow $AMZN Stock

Option flow in Amazon stock on October 17, 2022

Make sure to review this lesson on option flow so that you understand the image above.

In particular, volume and open interest have surged higher in the November 18, 2022, $129 call option contact.

Amazon $129 call option contract that expires November 18, 2022, bar graph showing increased open interest and volume on October 17, 2022.

Amazon.com price target lowered to $195 from $214 at Cowen

On October 17, 2022, Cowen analyst John Blackledge lowered the price target on Amazon.com to $195 from $214 and kept an Outperform rating on the shares. Blackledge likes Amazon shares as the company exits its historical $78B fulfillment and logistics investment spend in 2020-2021 coupled with accelerating topline growth.

The Big, Secretive Business Of Amazon’s 100+ Private-Label Brands

Amazon.com $AMZN Stock Technical Analysis

Amazon.com $AMZN stock is in a strong downtrend. Long-term indicators support a continuation of the downtrend; however, the stock is coming off of a quintuplet bottom which is quite an impressive support level for bottom feeders.

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