$Amazon.com(AMZN)$ OCT30 270C,

$Amazon.com(AMZN)$ OCT30 270C, still actionable.

Zone: $261.66 to $265.34

Invalidation: close under $255.22

Objectives: $280, then $287.20

The math: up 6.3% to the first objective and 9.0% to the second, against 3.1% risk on the invalidation, about 2.9 to 1 to the second.

Amazon quietly climbed back to a one-month high while most people were watching other names. It sits near $263.50, up about 3.9% in a month, with buyers holding the $255.22 low from Monday and pressing toward the high. The floor is close and plain to see. Earnings on October 29 will give this move its real test, with room first toward $280 and then toward the $287.20 high from August. A close under $255.22 says the climb failed and you step aside.

Watching $265.34 today. It is the high so far, and a close over it would show buyers pressing into the report, not just holding ground.

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