AMZN - Heading Back to the LowsAmazon.com, Inc.BATS:AMZNVIAQUANTAmazon has now seen its second breakdown of the smaller bear flag on the daily chart. The primary pattern has been the parallel channel (or flag) that broke and gapped below on February 6th. Price then came very close to retesting the bottom of that channel as new resistance (Bearish Retest). Now, price has decisively broken below its LTF support which is something that is even more clearly visible on the lower timeframes such as the 1H, 2H, or 4H charts. Given the significance of this move, once the $198 level is closed below (the 0.618 of the micro trend) the next primary target becomes the 0.618 of the macro trend, putting price around $150. There have also been several key points of price action around $160, making this less of a single level and more of a range to watch between $150 and $160. In addition to that, the weekly RSI has a clear bearish divergence that has been present for some time. This drop in price is likely catching up with the weakness that printed on the RSI around the November 2025 highs.