My elliot wave analysis on AMC
Updated
AMC, in my opinion, is in an expanded elliot wave correction (attached is the general layout). If my count is valid, we just ended our bear run on AMC. Continuation of the bull run is imminent. Feel free to give your feedback.
PT1: 96.26
PT2: 121.13
PT3: 136.49
https://bullwaves.org/wp-content/uploads/2017/02/flat-correction.jpg
In addition, the stochastic rsi on the daily is oversold and there is actually a bit of divergence (we'll see what monday has in store). Last heiken ashi bar on the daily is a big indecision bar which could hint to a reversal. Overral, alot of bullish signs to this stock. Definitely a buy in my opinion
PT1: 96.26
PT2: 121.13
PT3: 136.49
https://bullwaves.org/wp-content/uploads/2017/02/flat-correction.jpg
In addition, the stochastic rsi on the daily is oversold and there is actually a bit of divergence (we'll see what monday has in store). Last heiken ashi bar on the daily is a big indecision bar which could hint to a reversal. Overral, alot of bullish signs to this stock. Definitely a buy in my opinion
Note
Double bottomed at 31.15 ... bullishNote
Today's action hinted the end of the 1-2 correction of our bull run (I have to wait for the next couple of days for confirmation). If it is true, my next short term target for wave three is 40-49 and then up to the 50s for our fifth wave. Good luck in the markets folks.
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