Tech Stock with Potential Support Amid Pullback

Group 1 - Amazon.com Inc (NASDAQ:AMZN) experienced a significant selloff, reaching its 24-month moving average, which historically has been a strong buying opportunity, with exceptions in 2008, 2020, and 2022 [2] - The stock price approached the $175 level, which was a resistance point during 2020-2021, and the low of$166 on Friday aligns with the April 2024 low and previous put open interest strikes [3] - Given the technical support levels, it is considered an opportune moment to buy AMZN on the dip, with a recommended call option that has a leverage ratio of 6.0, potentially doubling with an 18.8% rise in the stock [4]