AMC Bullish Gartley Pattern
Here 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.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.