The shares of Amazon.com Inc., the world leader in e-commerce, continue their moderate sideways correction, trading at 98.00.
A corrective trend is forming on the daily chart, and the reversal Head and shoulders pattern is completed at its lows, which can be worked out after the quotes fix above the maximum of the second Shoulder at 110.00.
On the four-hour chart, it can be seen that the second Shoulder of the pattern is also forming the Head and shoulders pattern, which Neckline is at 101.00 and can be broken soon, after which, the next target of the upward dynamics will be 110.00, which acts as a key resistance in the long term.
Technical indicators confirm the correction: the range of fluctuations of the EMA on the Alligator indicator is expanding upwards, and the AO histogram is forming rising bars in the buying zone.