$AMC: Squeeze On Earnings?
⭐Bullish Descending Pattern for over 9 months (Target of this pattern is 72$)
⭐Bottom trendline support bounced the price 4 times with significant volume (Previous1400% gain, strong level of resistance)
⭐Strong bottoming signals on the MFI (Last time this happened a 1400% move occurred
⭐14.8$ Support confirmed by VPVR node + 7.86 Fib + Trendline + Volume
⭐A break above 20$ (Ichimoku Cloud + multimonth consolidation zone resistance + large VPVR node) should lead to a large spike in the price of AMC
⭐24$ Ichimoku Cloud resistance needs to be broken
⭐0.5 Fib (31.8$) Resistance, once this level becomes support the options chain should push the price to higher levels
⭐If a daily candle is closed below the Ichimoku Cloud with a significant amount of selling Volume the squeeze will be delayed (We need daily closes above 16$)
⭐I am of the belief that this is the bottom due to the trendline support + the bullish divergence on the MFI
⭐By looking at the Options Chain a move below 16$ is highley unlikely
*WARNING* This thread is not financial advice. I am not a financial advisor.
⭐Bottom trendline support bounced the price 4 times with significant volume (Previous1400% gain, strong level of resistance)
⭐Strong bottoming signals on the MFI (Last time this happened a 1400% move occurred
⭐14.8$ Support confirmed by VPVR node + 7.86 Fib + Trendline + Volume
⭐A break above 20$ (Ichimoku Cloud + multimonth consolidation zone resistance + large VPVR node) should lead to a large spike in the price of AMC
⭐24$ Ichimoku Cloud resistance needs to be broken
⭐0.5 Fib (31.8$) Resistance, once this level becomes support the options chain should push the price to higher levels
⭐If a daily candle is closed below the Ichimoku Cloud with a significant amount of selling Volume the squeeze will be delayed (We need daily closes above 16$)
⭐I am of the belief that this is the bottom due to the trendline support + the bullish divergence on the MFI
⭐By looking at the Options Chain a move below 16$ is highley unlikely
*WARNING* This thread is not financial advice. I am not a financial advisor.
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