(Click on image to enlarge)

Amazon (AMZN) seems to be forming a zigzag pattern consisting of cycle sub-waves a-b-c.

In the last section of the chart, a decrease in the price could indicate the beginning of a bearish correction wave b. This correction can take the form of a zigzag Ⓐ-Ⓑ-Ⓒ.

Most likely, in the near future we will see a continuation of the depreciation of stocks in the final intermediate wave (5). This could end the primary impulse wave near 83.88. At that level, wave (5) will be at 200% of previous impulse (3).

After the end of the impulse wave Ⓐ, prices should move higher in the primary correction Ⓑ.

(Click on image to enlarge)

In an alternative scenario, the primary impulse wave Ⓐ has already ended.

In this case, if this option is confirmed, the stock price will start to rise within the bullish correction Ⓑ.

The correction wave Ⓑ will take the form of an intermediate double zigzag (W)-(X)-(Y). Where the actionary wave (W) is also a double zigzag W-X-Y.

Since the correction sub-waves in zigzags most often make up 50% of the previous impulse waves, therefore the entire primary wave Ⓑ can end its pattern near 144.67.

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