AMC Looking for bounce on the weekly trend
Updated
!! 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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