AMAZON going for a DIP on the 4H

Crystal ball has spoken, AMZN is due for a small DIP.

Trend Analysis:
• The price is trading in an overall uptrend, respecting the 50 EMA (yellow) and 20 EMA (gold), indicating strong bullish momentum.
• Recent price action has formed higher highs and higher lows, maintaining bullish structure.

JP StochDemark Indicator Insights:
• The indicator is approaching overbought levels, currently crossing above the 80 threshold, which signals potential exhaustion in the short term.
• Bearish divergence is forming as price makes new highs while the indicator fails to confirm.
• Previous occurrences of such setups led to short-term pullbacks before continuation.

Support & Resistance Levels:
• Immediate resistance at $236-$238, aligning with recent highs.
• Short-term support at $225, where moving averages align.
• Strong demand zone around $210-$215, coinciding with prior consolidation.

Trade Signal & Probability:

Bullish Bias: Continuation likely if price sustains above $230 with momentum confirmation.

Bearish Pullback: A corrective dip to the $225 zone is probable if momentum weakens.

Target Levels: Upside targets at $240 (psychological resistance) and $250 if momentum persists.

Risk Levels: Watch for breakdown below $225, which could trigger further downside to $215.

Conclusion:
Momentum remains bullish but overbought signals suggest caution.

Monitor for a healthy retracement before continuation. A break above $238 could confirm further bullish momentum.

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