$Amazon.com(AMZN)$ NOV20 270C, still actionable.

Zone: $260.50 to $264.20. Invalidation: close under $256. Objectives: $278, then $287.

The math: up 6.0% to the first objective and 9.4% to the second, against 2.4% risk on the invalidation, better than 3 to 1 to the second.

Think of a heavyweight who took a long rest, then quietly climbed back to the top of his range. That's this swing setup. Amazon jumped about 5% on Monday and held near $262 for two more days instead of giving it back, which means buyers are defending the ground they just took above the 50-day average near $256. Earnings land on October 29, and what that really tests is whether the cloud business can keep growing fast enough to carry all that spending, so holding over $256 into that report keeps the run toward $278 and the old high near $287 in play.

P.S. Watch $265 first. That was the high on Tuesday, and a close over it would say buyers are early, not waiting for the report.