AMC pumps price and volume into fair value zone LONG
AMC is on a 4H chart with a set of VWAP bands overlaid In the past two trading sessions price
and volume have pumps and so also the PV Trend indicator. There is no fundamental
footprint on this move. it is a pure meme much like a similar move of GME. I will go long
here hoping to ride the momentum and capture profit. I will set a stop loss fo 10% n
recognition of the volatilit The final target is the $ 120 range pivots of April and
August 202. The initial target is the $35 range of the ranging zone of August 2023. Upon
reaching the first target I will cut the position to 50% for the leg higher. I will cut the position
if momentum fades especially if the volume fades with it. This will be interesting at the least
and highly profitable at the very most.
and volume have pumps and so also the PV Trend indicator. There is no fundamental
footprint on this move. it is a pure meme much like a similar move of GME. I will go long
here hoping to ride the momentum and capture profit. I will set a stop loss fo 10% n
recognition of the volatilit The final target is the $ 120 range pivots of April and
August 202. The initial target is the $35 range of the ranging zone of August 2023. Upon
reaching the first target I will cut the position to 50% for the leg higher. I will cut the position
if momentum fades especially if the volume fades with it. This will be interesting at the least
and highly profitable at the very most.
Comment:
News Catalyst www.cnn.com/2024/05/...ing-kitty/index.html
Trade closed: stop reached
Comment:
Price falling?. ?Bear trap? Shorts are revenge trading?
Trade active:
Chasing the reversal now.
Comment:
AMC has rested in consolidation and accumulation for 4 day. May be ready for
continuation upside.
continuation upside.
Comment:
Nice move up today 10% of the position closed. Looking for continuation upside tomorrow then profit taking on Friday.
Comment:
Trade active:
MAC moved higher in a Friday surprise. 10% more of the position closed to collect
some profit. Holding remaining 80% for next week's action.
some profit. Holding remaining 80% for next week's action.
Trade active:
Two buys today on pivot lows- slowly adding shares to await a strong move ( green arrows on the chart)
Comment:
Zoom In view