AMZN Price Analyze

If we have an eye on the latest price movements of AMZN share, it was on a side market since August 2021. As revealed in the chart the price only varied in the range of 150-190 $ per share since that time. The price fluctuations are almost located between the middle and top lines of the green price channel. 22 Nov 2021 the price started dropping dramatically to the bottom line of the green channel. Initially, the bottom line of the green channel supported the price but eventually, the price succeeded to break it in29th May 2021.
As a result of breaking the bottom line of the green channel, it's seemed the price is forming a descending channel like the red one presented in the chart. As it is shown in the chart the price has pulledback to the bottom line of the green channel and reacted to this level clearly. This reaction includes a kind of head and shoulder bearish pattern with a target price range of 115-117$.
To sum up, due to breaking the bottom line of the green channel, clear price pullback to it, and also bearish head and shoulder price formation, it is expected the price to decline more in the future.

Supports:
120 ---> Bottom of current descending trend
114 ---> Top line of descending triangle
103 ---> Bottom line of descending triangle
90 ---> Bottim line of red channel

Resistances:
140 ---> Top of shoulders
150 ---> To of head, top line of red channel, bottom line of geen channel (strong resistance)