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

The Bearish pennant pattern has formed on the #AMZN M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 200.26; the projection of the flagpole height is equal to 2327 pips. In case the price breaks out the pattern’s bottom of 200.26, the downtrend is expected to continue for further level 199.96.

The Bearish pennant pattern has formed on the #AMZN M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 220.33 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Bearish pennant pattern has formed on the #AMZN H1 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 231.31, a trader will be able to successfully enter the sell position.

According to the chart of M5, #AMZN formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 245.56 and support 243.23. In case the resistance level 245.56 - 245.56 is broken, the instrument is likely to follow the bullish trend.

On the chart of the #AMZN M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 243.23, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 233 points.

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 245.80.

The Double Top pattern has been formed on #AMZN M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 241.66 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on #AMZN M5. Characteristics: the upper boundary 242.85; the lower boundary 240.77; the width of the pattern is 206 points. Sell trades are better to be opened below the lower boundary 240.77 with a possible movements towards the 240.62 level.

The Triple Top pattern has formed on the chart of the #AMZN M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 31, support level -20, and pattern’s width 161. Forecast If the price breaks through the support level 238.76, it is likely to move further down to 239.71.

According to the chart of M5, #AMZN formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 240.37 and support 238.76. In case the resistance level 240.37 - 240.37 is broken, the instrument is likely to follow the bullish trend.