AMC Broad Bottom Formation
Well the bottom was called at 32.88-we got that at the opening bell. Been watching this develop and I think we should have a crab pattern forming. This is not a deep crab pattern, but a very modest one with a take profit 1 around 40.15 - and should continue up if it does not reject. As this develops look for upside from here.. if we go down further than it will negate this pattern. So set your stops. AMC was a bit of a nightmare for the unexpected, but we called this short and the bottom... I am looking for some upside. Shorts are set just in case.
Trade active
Trade opened at 34.50- target 40.15- 40.20Trade closed manually
Took profits earlier today at 37.50... looking to re-enter, but anything below 34.00 is a failed move.Trade active
34.82- stop limit order.. lets see if we can go back upside.Note
The fake bounce downside still ended up playing back upside. Amazing :) It was called.... Broadening Bottom was accurate here.Note
AMC does need to get over 40 dollars to confirm an up break... anything less than this will signify a failure of the bottom formation. Typically we like to see 5% or more gains .. we are just about 2% from last top in the formation right now.Note
Broadening Bottom looks legit. Will update with new chart- this early pattern is not valid.. the call was, but not the pattern. Update to follow.
Moorsc0de aka Crypt0nomics aka Zaphkiel
Moorsc0de aka Crypt0nomics aka Zaphkiel
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