01/27 2020 - AMC play
Hi all,
The market is driven by FOMO, a lot of retail money is being injected to several hyped stocks, AMC is one of them.
AMC is totally going against the market sentiment (S&P) and will be back to where it was.
There are few technical reasonings why AMC is good short or option play for today-tomorrow..
1. Price is going up while volume is decreasing, which means buyers soon to be exhausted
2. Possible bearish harmonic pattern is seen, good short opp at 61 fib level.
Target : $11
Aggressive target: $8
The market is driven by FOMO, a lot of retail money is being injected to several hyped stocks, AMC is one of them.
AMC is totally going against the market sentiment (S&P) and will be back to where it was.
There are few technical reasonings why AMC is good short or option play for today-tomorrow..
1. Price is going up while volume is decreasing, which means buyers soon to be exhausted
2. Possible bearish harmonic pattern is seen, good short opp at 61 fib level.
Target : $11
Aggressive target: $8
Trade active
Trade closed: target reached
Note
01/28 AH, AMC is a good buy. GL guys.
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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.
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.