Amcentertainment
GAMESTONK... WHO IS READY TO BREAK THE INTERNET AGAIN?If you hold Gamestop I'm so happy for you. I personally only hold AMC but I don't care which stock skyrockets or squeezes first. The other will follow. That's facts. GME has either bounced or been rejected by the long-term trendline from 04/03 2020. It has respected the trendline as support 9 times. Friday the trendline was respected again. A lot of people were fearful this week on GME and AMC. I don't understand why, if you look back at the history of GME's chart you can see this correction or dump is not even the biggest. It fell 37% one month before the squeeze on January 28th. It fell almost 25 % two weeks before the squeeze. The volatility is normal when it comes to GME and AMC. If you've held this since January last week was nothing. This is usually what occurs before a squeeze or a big run-up. We closed above a strong support (168-169) which was also a good sign for the future. GME is looking primed for another squeeze.
AMC Expect more downside to $24.30 next weekRemember, There is no V-Shape recovery in the market, After this much downside expect price to drop further more to $24.30 as many users enters here hoping to recover, but market makers always try to knock them out here.
Be careful, its new range $26.82 - $30.93.
AMC bull pennant still in playAll things considered, we didn't do to bad today. Next week will be crucial with how things play out with this new covid variant. But the good news is major support levels held and we closed within the pennant. If you see a defined break below these levels, I would be looking for an exit strategy. If it holds, well...hodl.
AMC LongUpdating some soft and hard resistance/support lines
Red: Major support/resistance
Orange: Moderate
Green: Soft support/resistance
If you go to the 5m chart you'll see the stock trade pretty easily in and out of the green support/resistance lines. Seems to still be consolidating for a major breakout, I'm predicting to ATH.
AMC weekly chart is supper bullish $3650AMC weekly chart is supper bullish $3650 is to be expected long term