AMC still going higher!AMC
Short Term
We look to Buy at 14.20 (stop at 12.69)
Broken out of the channel formation to the upside. This is positive for sentiment and the uptrend has potential to return. There is scope for mild selling at the open but losses should be limited. Further upside is expected.
Our profit targets will be 18.64 and 21.01
Resistance: 20.00 / 30.00 / 45.00
Support: 14.00 / 12.17 / 10.35
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AMC trade ideas
Looks messy but I'll take it!Todays red candles were expected after such a green week, hitting some resistance as the price has continuesly shown strenght when the overall market was weak. More bullish than ever on AMC. Price is up almost 90% since may. This will most likely continue with more news from the CEO himself via Twitter with the most recent being the annoucments concerning the debt of the company. More nice moves from the leadership are anticipated!
All Roads Lead To RomePretty self-explanatory. A break down could mean a visit to around 8-10$ which is a nice place to fill up our bags once again though I really don‘t see it happening. These may very well be the last days of AMC below 20$. A voyage to the end of the known universe.
Squeeze season is just around the corner!
AMC: Looking bearish...Fibs in green, ascending channel (bear flag), target is 9.42, next would be 7. Channel was copy and pasted below as is the traditional measure for an ascending channel. There is confluence at the EQ and 9.42, as well as with bottom of channel and 7. (Note to self) Continuation patterns happen more often than reversals.
AMC AnalysisI was wrong about the analysis on AMC. Last week, I expected price to go lower to take out the sell-side liquidity. However, price went higher. Target for this upmove could be the equal-highs at 19.01. From here, we could still see price going lower from here. Either that, we can see a start of an uptrend to take out the clean highs at 34.33.
AMC - Bullish Wave pattern My technical analysis for AMC and why I am bullish on the stock
Strong support zone between the 15.70$ to 16.10$ area.
Since Jun/22/22, we have been on an up-trend. (Creating higher highs / higher lows)
Waiting for confirmation pullback to support zone
Once the support zone is hit, the next target zone will be the 18.30$ to 19$ area.
Break $72.62 and minimal target is $111If $9.70 is the low now and we can break $72.62 the price targets we can look at are below based off Fibonacci retracements. Fib levels are in brackets
All time high (1) $72.62
Bottomed out (0) $9.70
To validate the price targets below AMC must breakthrough $72.62
In the previous cycle $72.62 was the 4.236 fib extension level taken from its previous cycle top and bottom. So there’s no reason why It can’t reach the 4.236 again.
(1.618) $111.50
(2.618) $174.42
(3.618) $237.34
(4.236) $276.23
I do believe AMC behaves as in a crypto type cycle with bull run tops and bottoms.
If you’re unfamiliar with Fibonacci extensions I highly recommend watching some videos and doing some research on them because they are pretty much the reason prices land where they do.
AMC - Triangle breakout
Clean breakout of the ascending triangle. +++
Good volume - still seems like retail buying though ++
Into the supply zone until 200 DMA around 23, so likely to be choppy until it clears 200 DMA. If it doesn't lift off in next few days, I'd be alarmed and look to trim position. Projection is that it tests 200DMA
Bullish statement for AMCAMC has broken out of an ascending triangle pattern with a technical target to $24.71
Coincidently $24.71 is the line of resistance the price has been stuck under since it put in it’s all time high.
The crossover of the 21 and 55 ema on the daily timeframe is a very bullish statement for AMC. Furthermore, holding the 21 ema on a retrace will put the stock in a prime position for more upside action.
I would expect to see a retrace to $16 to test support of the breakout structure but we all know how violently it can move so don’t bank on a back test.
Not financial advice and just sharing an idea. Trade with caution and stop losses. Never trade with money you can’t afford to lose.
Good luck everyone
Amc So I tried to short it up at the $16 range but it’s pretty much just been holding between 1470 and 1560 area. Honestly I close them out because I wasn’t up much and it was just taken too long. Looking at this like a break out of ascending triangle it could be actually just back testing the ascending triangle as new support. It’s really tough to say of course but honestly the look of it is kind of bullish, we still need to break that 1613 area and hold that I support but it doesn’t seem like too bad of a trade with a stop loss below 1450
AMC - 4 Levels of interestHello Derrrdz!! Just sharing ideas for fun and by no means is this financial advise.
Looking at AMC and I will be paying attention to 4 levels.
1. Global .236 Fibb level - Above this and I like it to the upside. Note that there is a MTF Resistance level right above which would be TP1. If breaks above that, I like entries on pullbacks.
2. Daily .236 Fibb level- Above this and I like a scalp to the Global .236. Note the TL could act as support as well.
3. Confluence Level Here - Daily .382 + WVAL + Local .786. S/L right below the Local .786
4. Conluence Level Here - HVA + ImPOC + Local .886. Tight S/L right below the .786
I can feel a tingle in my pineal glandThis means absolutely nothing even though we know the infamous pattern this stock is following. Like I said in my last post, I believe this could be the last time we see AMC below 20$ for a while. With that being said, I'm extremely bullish on this stock and I don't believe that this is a fundamentals game. Hype driven euphoria will push GME, AMC and a few others to the moon. Maybe the new James Webb telescope will be able to tell where the prices will go LOL.
Amc Although we had a beautiful run up which was a nice bullish move, one thing to keep in mind is the faster we run up the less support we have on the way down. With that being said the $16 range has been a struggle for AMC. Currently we are testing the 200 EMA on the four hour time frame which is slowly getting rejected over and over. This is something to keep in mind as we could be getting slowly push down as the 200 continues to point down. If somehow we’re able to push through then we could see a very big break, however most stocks that have tested their 200 EMA on the four hour, have failed and gotten big rejections. Is AMC going to stray away from the market and be bullish while everything else is Bearish? Probably not so for me I’m going to continue to watch it get rejected and look for my entry.