$AMC - Falling Wedge Breakout Déjà vu
If you look on my past 
AMC post where I predicted the last major breakout (M) you can see that we have been here before but on different timeframes. Here we have a Falling Wedge breakout. This pattern occurs within an uptrend and consists of lower lows and lower highs. We can confirm it is a breakout by the price closing above the upper descending trendline drawn across the highs on above average volume. The projected target is the highest high on the formation which is about $60. I'm expecting AMC to reach this PT hopefully by sometime this week. Now last time I predicted this I said I wanted it to touch the highest high of the formation ($60) and then come back in on the pullback. I predict the pullback will be around the $42-$45 area. When this pullback occurs just like last time I believe this is where the FOMO buying really kicks in and breaks the $60 level, the $72 ATH, then to $100 plus. I believe we will get to about double last times pop around the $130-$150 level before we can expect another major pullback to the $40-$50 levels. These swings will happen pretty fast and will be great scalping oppertunities. Many APES will not like me saying that but I'm just pointing out what is bound to happen. Last time AMC could not hold these high levels and eventually sold off for a couple months. I'm praying that this time the shorts have no choice but to cover ALL of their positions sending AMC to the moon. Of course HODL your shares but if you're experienced in Options and scalping, this should benefit you greatly. Of course all this is speculation, we all know TA can only go so far. But history tends to repeat itself and it is wise to know where we came from to help us know where we can go. Hopefully this helps my fellow APES. APES TOGETHER STRONG! LMK WHAT YOU THINK!
AMC post where I predicted the last major breakout (M) you can see that we have been here before but on different timeframes. Here we have a Falling Wedge breakout. This pattern occurs within an uptrend and consists of lower lows and lower highs. We can confirm it is a breakout by the price closing above the upper descending trendline drawn across the highs on above average volume. The projected target is the highest high on the formation which is about $60. I'm expecting AMC to reach this PT hopefully by sometime this week. Now last time I predicted this I said I wanted it to touch the highest high of the formation ($60) and then come back in on the pullback. I predict the pullback will be around the $42-$45 area. When this pullback occurs just like last time I believe this is where the FOMO buying really kicks in and breaks the $60 level, the $72 ATH, then to $100 plus. I believe we will get to about double last times pop around the $130-$150 level before we can expect another major pullback to the $40-$50 levels. These swings will happen pretty fast and will be great scalping oppertunities. Many APES will not like me saying that but I'm just pointing out what is bound to happen. Last time AMC could not hold these high levels and eventually sold off for a couple months. I'm praying that this time the shorts have no choice but to cover ALL of their positions sending AMC to the moon. Of course HODL your shares but if you're experienced in Options and scalping, this should benefit you greatly. Of course all this is speculation, we all know TA can only go so far. But history tends to repeat itself and it is wise to know where we came from to help us know where we can go. Hopefully this helps my fellow APES. APES TOGETHER STRONG! LMK WHAT YOU THINK!
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