AMC End of October: Is $36 the bottom or back to $32?
Updated
3 weeks have pass since October. I was wrong about the bullish hammer. I expect to go up today but it went down. One pattern I hesitate and over look was the head and shoulder pattern. The price action today confirms the head and shoulder patterns. Interestingly back in September the same thing has occur. And now what to expect October. Will the algorithm repeats? If so, I expect AMC to dip even further to $32 based on the fib retrace of $28.92 and $44.44. If not I expect $36 is the bottom and we are not looking back. The falling wedge will be determine by next week price action.
Comment
For those that can't see the Fibonacci price target of .786Confirmed
$28.92-$52.78 = .786 = $33.75
Hypothetical Scenario Path A/ Is it Confirmed Yet?
$33.75-$44.44 = .786 = $36.01
Hypothetical Scenario Path B/ Algorithm Repeat
$28.92-$44.44 = .786 = $32.94
Comment
Just a minor correction the second head and shoulder is a mistake it's neckline suppose to slant downward.Comment
One minor I meant $33 but i keep typing $32.Disclaimer
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