AMC Looking for bounce on the weekly trend
!! Not a Financial Advice !!
Our beloved ape stock, AMC, is respecting the weekly up-trend so far. We are below all the moving averages and our only support at this point is the weekly up-trend.
In the short term, I expect a bounce back to the 0.5 FIB level of the latest run.
As usual, it is almost impossible to apply TA to a highly manipulated and shorted stock as both sides of the story, Apes and SHF are refusing to give up.
I personally hold a lot of AMC and for me, it is a ZERO or HERO game.
#ApesTogetherStrong #ApesNotLeaving
Our beloved ape stock, AMC, is respecting the weekly up-trend so far. We are below all the moving averages and our only support at this point is the weekly up-trend.
In the short term, I expect a bounce back to the 0.5 FIB level of the latest run.
As usual, it is almost impossible to apply TA to a highly manipulated and shorted stock as both sides of the story, Apes and SHF are refusing to give up.
I personally hold a lot of AMC and for me, it is a ZERO or HERO game.
#ApesTogetherStrong #ApesNotLeaving
Note
We have closed higher today! That is a good sign!Note
It was a red day yesterday, but the price range was very small and looks like we are consolidating at this range...it is a good thing if you ask me :)Note
Unfortunately, we broke down the weekly trend due to the market reaction to the fed meeting on Thursday. The whole market went diving to the ground and AMC took a hit as well. This might be a small scale "black swan" event and might be caused by the selloff of IWM and other ETFs. I hope we can recover fast and on a weekly timeframe we see a candle body closing above the trend. I would not be concerned if the wick remains under the trend line, the important is the body and I hope we can manage to pull up a bit today as the last day of the week.
I am the defender of the retail against the wolves of the wall street
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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.
I am the defender of the retail against the wolves of the wall street
Related publications
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.