FX.co ★ Patterns #AMZN | Amazon.com, Inc. Stock Price

According to the chart of M5, #AMZN produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 201.64 while the median line of the Neck is set at 204.52/205.01. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #AMZN will go towards 205.16.

According to the chart of M5, #AMZN formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 205.75 - 0.00 and support 205.12 – 205.12. In case the resistance level 205.12 - 205.12 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on #AMZN M5; the upper boundary is 205.74; the lower boundary is 205.16. The width of the pattern is 62 points. In case of a break of the upper boundary 205.74, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Bullish pennant graphic pattern has formed on the #AMZN M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 205.96.

The Double Bottom pattern has been formed on #AMZN M15; the upper boundary is 203.40; the lower boundary is 200.12. The width of the pattern is 338 points. In case of a break of the upper boundary 203.40, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Double Bottom pattern has been formed on #AMZN M30. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 203.40 is broken. The further movements will rely on the width of the current pattern 338 points.

The Double Bottom pattern has been formed on #AMZN M5. Characteristics: the support level 200.37; the resistance level 201.93; the width of the pattern 156 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 166 points.

On the chart of #AMZN M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 206.53; the lower boundary 204.48; the width of the pattern 205 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 204.26 level.

On the chart of #AMZN M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 206.53; the lower boundary 205.98; the width of the pattern 55 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 205.83 level.

According to the chart of M5, #AMZN formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 206.56/205.38 whereas the lower border goes across 204.16/205.38. The pattern width is measured on the chart at 240 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 205.38 is broken, the price could continue its move toward 205.53.