Summary on AMC/downtrendAs we see on the chart sellers confirmed their presence. On downtrend after a succession of many red candles at the next green candle with a large volume you can exit the market to maximize your profits!!! Thanks...
AMC2 trade ideas
EXAMPLE OF BULLISH CHANNELGood morning all!! I hope that you all are ok!!! May God bless everyone forever...One Love...!!!
In the case of a bullish channel, the support is more important than the resistance , indeed if the prices break the resistance, it simply means that the upward pressures are more and more sustained whereas if the prices break the support , in this case , the entire uptrend is called into question. Conversely for a bearish channel it is the resistance that is important. At the next course we will see the downtrend channell.!!! Thanks...
$AMC BearishOn my last chart of AMC we identified the demand zone and eventually blew right through out target! Now we're hear to look at the reverse of that outcome.
I know the bulls and 'ape land' won't approve of this sentiment; nevertheless, I foresee price action returning back to our $12 - $14 range and that could happen within a short duration of time. Let's call it within the next 30-45 days to be conservative; however, I really hate to ever put durations on anything when it comes to the markets.
AMC break outTomorrow should be very interesting.
Bull Scenario:
Price breaks wedge to upside - Quick move to 23.5 to 26
Bear case:
Breaks 20 support - drop to 18.5 and free fall below
Optimistically bullish going into tomorrow.
However, if price continues sideways trading in the low 20 range it will not be pretty. Low volume today due to FED announcements tomorrow, we need a large inflow of volume tomorrow. Good Luck.
$AMC Notes: Comparing May Move to Current PAFor personal reference and this is for comparison only (not predicting anything). This move is both steeper and more drastic, but the current ratio of percentages is still lass than in May (at the moment at least).
EDIT: the 38 in yellow should be 41 (it was at 38 yesterday and forgot to update that number)
AMC Falling WedgeAMC has been in a falling wedge ever since it touched the 34.33 price level on March 28th. Since then, price has been falling on decreasing volume, indicating that bears are being exhausted.
It is currently sitting in the Golden Pocket, which is a likely reversal area. I expect AMC to breakout soon towards the upside.
$AMC: Really Important Day!⭐20$ Support must be held (Ema Ribbon support), previously this level was a huge level of resistance causing a 3 month consolidation. 20$ is also a large VPVR node that needs to be respected for bullish continuation. 20.9$ is the 7.86 Fib which is a good long term retracement zone.
⭐TD-Sequential red 9 which often indicates a bottom
⭐Looks like the MFI is forming a bottom
⭐Bearish TK-Cross on the Ichimoku Cloud (Bad Signal) most likely if the 20$ level holds this should be ignored
⭐We are retesting the large bull flag. This retest must hold as support
⭐For bullish continuation we need to see a good bounce with a significant amount of volume and a daily close above 23$
⭐Daily close below 20$ is going to be bearish (Highly unlikely scenario)
⭐Options Chain looking bullish, lower levels barely have any Volume or Open Interest
*WARNING* This thread is not financial advice. I am not a financial advisor.
