Since May 12th: AMC has broke above the 50 EMA which is usually a bullish signal, it has also formed a beautiful ABCD Pattern , and broken out of a bullish wedge. I bought calls between point B and C after some sellers took profits and there was a correction, I knew people who got in early were wanting to take profits so I waited patiently until AMC found a support level (point c). I didn't want to get in too late either because I know once price got back up to B level, it was bound to take off from there.
I am currently in some May 28th calls I purchased last week during the price correction and all three of them are up more than 100%, I couldn't paper hands until my first target is reached.
AMC is up nicely after hours, if price breaks through my first target of $17.05 then theres a chance AMC could revisit AH range and possibly break its all time high's, we shall see.
I will plan to take majority of my profits once my price target is reach at the yellow horizontal line.
I am currently in some May 28th calls I purchased last week during the price correction and all three of them are up more than 100%, I couldn't paper hands until my first target is reached.
AMC is up nicely after hours, if price breaks through my first target of $17.05 then theres a chance AMC could revisit AH range and possibly break its all time high's, we shall see.
I will plan to take majority of my profits once my price target is reach at the yellow horizontal line.
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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.