Amazon Stock Could Bounce Back Toward Record Highs

Core Viewpoint - The current market conditions suggest that it may be an opportune time to buy the dip on Amazon.com Inc (NASDAQ:AMZN) following a recent pullback after reaching near its record high of $242.52 [1] Group 1: Stock Performance - Amazon's stock is currently trading at $221.65, which is below its year-to-date level and a historically bullish trendline [1] - The stock is within 0.75 of the 200-day moving average's 20-day average true range (ATR), having spent at least 80% of the last 10 days and two months above this level [2] - Historical data indicates that similar conditions have led to an 80% probability of the stock being higher one month later, with an average gain of 8.4% [2] Group 2: Price Targets and Options Trading - A potential upward movement from the current price of $221.65 to $240.26 would align with the resistance level and its record peak [4] - The current options market shows attractively priced premiums, with Amazon's Schaeffer's Volatility Index (SVI) at 29%, ranking in the low 11th percentile of its annual range, indicating low volatility expectations [4]