$AMC: Gamma Squeeze (30$ Incoming?)
Updated
AMC is finally ready for an upswing.
Strong bullish divergence on the MFI + CM_Ult_RSI + Bullish TK-Cross on the Ichimoku Cloud. All these indicators are illustrating a possible trend-reversal. In addition, todays volume was almost 170 mil, this volume was last seen in August 2021.
Most likely we will see continuation of this trend due to the fact this move is engulfing a significant amount of daily candles. We have managed to close above resistance at 18.8$ which is now a strong support zone confirmed by a large VPVR node.
As of now we will be facing resistance at 21.68$ which is the 0.5 Fib. This level is also protected by a slight VPVR node.
Later on we have resistance at the end of the Ichimoku Cloud (23.69$ which is also the 0.382 Fib. Once this level is broken AMC is free to rocket.
Looking at the options chain we are extremely bullish. We have 126k Volume and 23.6k Open Interest at the 20$ level which indicates that this level has become strong support that is most likely going to hold the price. The 20$ level was before this move a significant resistance which has now turned into a strong support. We also have: 62.5k Volume and 4.3k Open Interest at the 21$ level which is also a level of significance. The 22$ level which has been acting as resistance has a total of 54.5k Volume and 8.2k Open interest. If these levels get broken a parabolic move is most likely to occur.
The 25$ level has 51k in Volume and 7.5k In Open Interest which leads me to believe that we are going to see continuation of this bullish trend.
The 30$ level is also loaded with 25k Volume and 5.2k Open Interest.
Finally the 40$ level is loaded with 35.9k In Volume and 11.7k in Open Interest. Soon this options will start printing the price of AMC will rise.
With all this said, a move to 25-30$ is very likely.
Keep in mind that the options chain hasn't been this bullish for a really long time.
What we need to see is to hold support above 18.8-19.5-20$ for continuation. We also need to see a daily close above 21.6$ to remain bullish. A rejection of this uptrend will most likely not happen due to the fact that the volume has engulfed 7 months of previous volume.
Also make sure to checkout my related ideas: (
AMC: Slingshot to 145$) where we have broken out of a large symmetrical triangle.
*WARNING* This thread is not financial advice. I am not a financial advisor.
Strong bullish divergence on the MFI + CM_Ult_RSI + Bullish TK-Cross on the Ichimoku Cloud. All these indicators are illustrating a possible trend-reversal. In addition, todays volume was almost 170 mil, this volume was last seen in August 2021.
Most likely we will see continuation of this trend due to the fact this move is engulfing a significant amount of daily candles. We have managed to close above resistance at 18.8$ which is now a strong support zone confirmed by a large VPVR node.
As of now we will be facing resistance at 21.68$ which is the 0.5 Fib. This level is also protected by a slight VPVR node.
Later on we have resistance at the end of the Ichimoku Cloud (23.69$ which is also the 0.382 Fib. Once this level is broken AMC is free to rocket.
Looking at the options chain we are extremely bullish. We have 126k Volume and 23.6k Open Interest at the 20$ level which indicates that this level has become strong support that is most likely going to hold the price. The 20$ level was before this move a significant resistance which has now turned into a strong support. We also have: 62.5k Volume and 4.3k Open Interest at the 21$ level which is also a level of significance. The 22$ level which has been acting as resistance has a total of 54.5k Volume and 8.2k Open interest. If these levels get broken a parabolic move is most likely to occur.
The 25$ level has 51k in Volume and 7.5k In Open Interest which leads me to believe that we are going to see continuation of this bullish trend.
The 30$ level is also loaded with 25k Volume and 5.2k Open Interest.
Finally the 40$ level is loaded with 35.9k In Volume and 11.7k in Open Interest. Soon this options will start printing the price of AMC will rise.
With all this said, a move to 25-30$ is very likely.
Keep in mind that the options chain hasn't been this bullish for a really long time.
What we need to see is to hold support above 18.8-19.5-20$ for continuation. We also need to see a daily close above 21.6$ to remain bullish. A rejection of this uptrend will most likely not happen due to the fact that the volume has engulfed 7 months of previous volume.
Also make sure to checkout my related ideas: (
AMC: Slingshot to 145$) where we have broken out of a large symmetrical triangle. *WARNING* This thread is not financial advice. I am not a financial advisor.
Trade closed: target reached
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