
Amazon.com, Inc. (NASDAQ:AMZN) was trading about 1.8% lower in consolidation on Thursday afternoon after rallying 3.8% intraday on Wednesday.
Thursday’s price action was taking place within Wednesday’s trading range which has set the stock into an inside bar pattern on the daily chart. An inside bar pattern indicates a period of consolidation and is usually followed by a continuation move in the direction of the current trend.