AMC Looking Bullish AGAIN ( analysis prediction)
If you have been following AMC , you know this is not a fundamental play.
My analysis is based on few factors.
I first placed a fib chart to help display the key levels we should be looking at. The bounce off the $36 support is clear confirmation AMC has begun to turn back around after the previous pullback.
At $38 we see the candle wick form a new resistance.
Also the RSI levels continue to show strong bullish momentum. This is a good sign if the volume can hold for the bulls. My price prediction for the next couple of weeks is $40-$45 range.
I would wait for options until price can hold new levels. Shares are much safe to hold even at $38 still a great entry point.
My analysis is based on few factors.
I first placed a fib chart to help display the key levels we should be looking at. The bounce off the $36 support is clear confirmation AMC has begun to turn back around after the previous pullback.
At $38 we see the candle wick form a new resistance.
Also the RSI levels continue to show strong bullish momentum. This is a good sign if the volume can hold for the bulls. My price prediction for the next couple of weeks is $40-$45 range.
I would wait for options until price can hold new levels. Shares are much safe to hold even at $38 still a great entry point.
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.