Amcstock
AMC THE BIG SHORTShort the bounces! We have multiple sell signals at the top and now we have a classic bounce formation, strong drop probable.
Reversal confirmed!! Here are my thoughts for what's to come. In my previous post, I shared my Elliot Wave count on the macro-scale. I also stated that monday will either make or break my reversal thesis. As you may have guessed, today's price action confirmed the reversal, for me atleast. Now, let me walk you through my EW count on the micro-scale ( assuming we bottomed and now in a bull trend). Today, we closed at $43.09 withing the fifth and final wave. If we topped in our mini bull run, then we can expect a consolidation in the next couple of days to the 61.8% fib level. I will update with my short term PT's if we reach there.
p.s. I would prefer a consolidation over a straight rip tomorrow, let the rsi cool off a little bit before the next run. But hey, who doesnt love green candles huh? Good luck in the markets!
Side note: I just started sharing my ideas two days ago. If you like them, give me a follow. It would be much appreciated.
diamond hands. WE THE PEOPLE HODL. Volume finally broke out today. We need that 136 million volume every hour not every day! AMC must test the monthly trend line support of $31.40, that is where I believe the bottom of the flag is. We broke out of a massive triangle but if AMC bounces hard off around this $31 area, it would appear that the triangle was actually much MUCH larger than we thought possible. Which is incredibly bullish considering what a solid breakout in this chart would do. ALL TIME HIGHS of a household name are still only 100% away? Absolute trash stocks get pumped 1000% every week. This is no pump and dump, this is half a year in the making. We are trending on twitter almost everyday, this is the most popular stock everywhere! And you mean to tell me that we only did 136 million volume down 15%? COME ON! I will continue HODL my xxx shares and add to my position every week. Up/down, couldn't care less. Apes strong. What can I say? I like the stonk. Not financial advice. $AMC #AMC
AMC Entertainment strong in the Pre-MarketIs this the sign of a potential reversal? Or a dead cat bounce?
AMC Entertainment is strong in the Pre-Market, bouncing from the strong fibbonaci retracement level of 0.618:
I`m looking forward to read your opinion about it!
AMC Daily Chart - July 19th, 2021AMC on the daily chart is finding support around $31.27 at the writing of this post.
I currently see the bullish reversal happening if this ticker moves back above $37.12 to break that downward pressure.
If AMC sees a bounce soon, look for a strong resistance around $54.37.
Overall, $54.37 has been a critical value in this trade with anything above it being bullish, and below it bearish for me.
For all of the apes out there, I hope you crush it!!
* I don't hold any positions in AMC, I just like to break down charts and give my opinion based on what I see.
** The script that I'm running is custom, and I'm also using Heikin Ashi candles on this chart for those who ask/wanted to know.
Best of luck everyone, let me know your thoughts in the comments.
AMC Fibonacci Levels Trend AnalysisThe cat's outta the bag with AMC ...it's a popular stock I guess (joking). But all jokes aside, the apes remain steadfast in their message but it's also time to revisit the technicals. After retracing from lows earlier this year, the Fib levels and current support/resistance areas on the chart seem to be lining up. The 50 Fib line is clearly a pivot that used to appear as a support level that AMC would test but not break below. Now that it has AND after breaking below the 50DMA, you can see that AMC has gotten denied multiple times not only at the 50 fib but also at the 50DMA. The big question for the week is can this fib area see a break and hold above or will the consolidation trend remain intact?
Obviously, apes will be apes and fight to the death but making money is nice too and understanding levels of potential support and resistance are important no matter if you're looking for profit targets or areas of potential buy opportunities. The bigger focus I think may be on what happens at the shareholder vote on the 29th at the AMC annual meeting. There were more details outlined in that proxy statement filed by AMC earlier this month .
AMC - Bounce off the 0.618 Fib lineAMC's been systematically hammered by Wall St, a term that includes all banks/firms manipulating the price downward . It's touched the 0.618 fib line (~33.00) and bounced off it with equal energy. Kudos to everyone who's waited patiently to load up according to the fib lines!
This is no guarantee that AMC will shoot back up to 50.00+, but it looks very promising.
AMC Entertainment retracement levels for a possible bounceOn the chart you can visualize better the 2 Fibonacci retracement levels from where we can see a potential bounce up and the strong support in the 16usd range.
All retracement have also the price targets on that arrows heading up after reaching the various support levels.
AMC Bullish Gartley PatternHere we are looking at Heiken Ashi candlesticks to get a better picture of the overall trend in AMC over the past couple months. The RSI and MACD both at neutral/oversold and look ready to reverse to the upside. Price tested lower bound of Bollinger Bands and bounced HARD back above it. A bullish Harami was created friday July 9th indicating a possible reversal of the short term downtrend. From the run up starting May 24th we can draw a bullish Gartley harmonic. If this harmonic pattern holds to be true the next Bullish PT would be 162% fib extension of the first run up and retracement which indicates a price of roughly 138 in the near to mid term future. Also worth noting, the highest strike call on AMC is currently 145.
MONEY REELThis is by no means a negative outlook on AMC, but a more realistic one. There are two options for the path of the stock displayed above.
AMC Stocks movement This is a manipulative scheme that attempts to boost the price of the stock just like GameStop's price movement. The financial recommendations are based on false, misleading, or greatly exaggerated statements. The perpetrators of a "pump-and-dump" scheme already have an established position in the company's stock and will sell their positions after the hype has led to a higher share price.
AMC in a tough spot. Is there any hope?AMC definitely not looking great. No matter how I try to see this, I don't feel like this is a super bullish chart? AMC got above 30B in Mcap after a major squeeze and was one of the meme stocks that did very well. In Market cap terms it was definitely the largest ever if I am not mistaken. The truth is that the short interest is still relatively high, but I don't think the previous squeeze was primarily a short squeeze. Currently at 18% of FF maybe AMC manages to have another push.
33-36$ is a key support area as 33$ was resistance back in 2015 and has now turned into support. There are some levels also lower that AMC could find support but I don't think such an explosive move would happen again. The CEO has definitely tried to squash the rally by selling as much stock as he could, but even with all of that the company is still 6B USD in debt and only has 2B in cash (so still not in great shape).
So for now in my opinion AMC has to hold 42$ for it to continue higher soon. So far it has broken some key support levels and the downturn accelerated which isn't great, but as 40 has held there is still hope. In my opinion if it manages to close above 60$ next time around, I think it will go much higher. Essentially waiting for the breakout trade or to buy below 36 might be the best idea for now.
AMC Update [7-7-21] - Possible Upcomin Correction / Value Areas.AMC showed weakness at the ATH, so we may be getting a correction here. If so, we just need to see when it is done correcting and establishes a floor.
If it stays above $40 AND establishes a floor here, that's a great sign. However, if it falls below $40, we are looking for it to establish a floor at the next two levels. If it breaks below that and goes to the Strong Support... then we may be in for a LONG summer. So watch these areas and we will see.
The lowest I can see it dropping is $22 but I highly doubt that will happen. If it does drop there and stays in that range and creates a floor there though... that would be a HIGH value look for entries/add ons.
AMC LONGGGGGGGGGGSUPORT 51.07 AND 45.33
TARGET 65.73 - 73.48 - 95.37
THIS STOCK IS HIGH-RISK HIGH-REWARD STOCK BUT ITS WORTH IT!!!!
AMC: Hype or Hyper? 💣💣💣In our analysis of the AMC stock, we expect the price to explode quite soon… again. Before the price hits $37.71, we expect the course to turn around and push for prices around $95.17 and potentially higher, if the stock price breaks out above $101.17.
Clear thing: Hyper!
$AMC Update for The APES$AMC actually may have a chance has a major reversal last week brought it back above support!
Bullish Trend Continues for AMC | Breakout on the HorizonEven with the pathetic attempt to create FUD by the media and Iceberg "Research", AMC is still plowing through the bull flag. Observing the way it bounced off that bottom edge of the triangle makes me even bullish than I already was. AMC is NOT comfortable outside of the channel. Consolidation continues with a breakout to the upside on the horizon.
$AMC Still on Track. Coiling Up for Even Bigger BreakoutAMC is still perfectly navigating it's current channel through the textbook bull flag. Though it could break out sooner, the chart indicates it could consolidate up until July 13. Patience will pay off, as the longer this consolidates, the more momentum it will have to the upside. #AMCtoTheMoon
AMC MACD Analysis with Alpaca IntegrationThis chart is used to test my Alpaca/TradingView integration. The goal is to create a bot that automatically trades AMC based on trend TA factors.
