Would you look at that.
Updated
Well, well, well...
Would you look at that.
Just look at it.
Have we seen this pattern before? https://www.tradingview.com/x/64LjZPZj/
Our old friend, Mr. Dragon, has returned and... What's this!? https://www.tradingview.com/x/BkAcuKfk/
The big guy is carrying a smole bebe dragon. How cute. So maybe it's a Mrs. Dragon??
This type of dragon bottom can be v powerful with these meme stocks, definitely something worth watching.
AMC has been obliterated since the stock split, but it's smelling like reversal time and the previews have already started rolling.
AMC has been a big pumper in the past, so we could see a nice squeeze to the upside.
It's not weird to see these dragon bottoms run all the way up to the extreme 4.286 fib extension, especially with meme stocks.
Look how the 4.286 is lining up with the 200 MA (thin, squiggly, blue line). And don't forget to mind the gap up there (gold circle). It should get filled in time.
And if you think I'm crazy, CGC did something similar just a few weeks ago.
*Mwah*. Beautiful.
Still waiting on some big, green boi energy to give more confidence to the idea, but one could buy now, set a SL below the dragon legs, and let it ride.
Grab your popcorn and enjoy the show. :)
Would you look at that.
Just look at it.
Have we seen this pattern before? https://www.tradingview.com/x/64LjZPZj/
Our old friend, Mr. Dragon, has returned and... What's this!? https://www.tradingview.com/x/BkAcuKfk/
The big guy is carrying a smole bebe dragon. How cute. So maybe it's a Mrs. Dragon??
This type of dragon bottom can be v powerful with these meme stocks, definitely something worth watching.
AMC has been obliterated since the stock split, but it's smelling like reversal time and the previews have already started rolling.AMC has been a big pumper in the past, so we could see a nice squeeze to the upside.
It's not weird to see these dragon bottoms run all the way up to the extreme 4.286 fib extension, especially with meme stocks.
Look how the 4.286 is lining up with the 200 MA (thin, squiggly, blue line). And don't forget to mind the gap up there (gold circle). It should get filled in time.
And if you think I'm crazy, CGC did something similar just a few weeks ago.
*Mwah*. Beautiful.
Still waiting on some big, green boi energy to give more confidence to the idea, but one could buy now, set a SL below the dragon legs, and let it ride.
Grab your popcorn and enjoy the show. :)
Note
Breakout Watch:The supply line of the baby dragon has been broken. Now we just need some volume behind the move. The last hurdle will be the supply line of the big dragon (it could turn into a sloppy looking IH&S). Once it clears $11, straight up to $17-18 and beyond.
Trade active
A lot of turbulence in this location. Institutions are keeping it pinned for now; lots of buying in the the first hour of trading and then stair step shorting for the rest of the trading session (classic). But believe me, when the CO is ready, he'll let it fly. Watch for the break above $11. When that happens... showtime, and they all know it.
Note
Break supply line of baby dragon. Check.Break supply line of daddy dragon. Check.
Now we just need to break $11. Earnings next week, so it could get wild. Leh go.
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