AMC - Where do we go from here???Bull trap or bear trap??? Where do we go from here? Gamma or accumulation?
AMC
AMC: Potential Breakout, testing resistance as supportAMC breaking out of its downward channel and looking for daily support green candle on the upper resistance trend line, some volume confirmation and green open on monday could confirm a move higher.
First target $24 if breakout is sustained based on fibonacci retracements.
AMC AUGUST 2022 AMC testing Fib level $19.10 and currently sitting on support. Need to test HOD 19.75 to ultimately test and break Jan 2021 ATH 20.36 and reach the March run of 34.33.
AMC is Clearly Tracking ETH Classic The chart speaks for itself. If AMC continues to follow ETH Classic, I would expect a continuation to the upside. NOT FINANCIAL ADVICE
Channel Breakout Example Really solid example of how channel breakouts often retest resistance AFTER resistance has already been broken. I like to think of it as testing the buyers and supply/demand zone to see if resistance can now act as support which would confirm another leg up as we see in Uber.
Good rule to follow is to not enter trades as soon as they breakout from a channel as the trend reversal is not confirmed by anything yet. we can see multiple channel breakouts where price did not continue rising once the channel was broken.
Volume confirmation (increaising volume with increasing price) is also important when identifying true breakouts, nice highs when lower than average volume is generally a sign of price disparity defined as divergence.
AMD Earnings UpcomingDepending on the markets reaction to AMD's earnings after the close today, we could see AMD show confirmation of a breakout from this downwards channel. Relative strength sitting at resistance levels in respect to historical "tops", looking to see if a breakout in relative strength can also provide confirmation after ER. Directional movement also positive.
Negative ER reaction I believe would continue AMD back within its downward channel to look for support near $87
AMC Entertainment Options Ahead Of EarningsLooking at the AMC Entertainment options chain, i would buy the $17 strike price calls with
2022-10-21 expiration date for about
$2.11 premium.
Looking forward to read your opinion about it.
AMC Squeeze ProjectionNot sure if a 'kite shape' has ever come up in technical analysis but for the sake of meta we can just say diamond. I think we will run sideways until the half point is tested where we will get a breakout to ~100. After that, since it would be at the top of a rising wedge, we would see a slow consolidation to test the extended bottom trend (orange) where we will see a push to another high point where the squeeze should occur (summer 2024).
If we breakdown, then its just wrong and I can see 5 being a bottom. I've been holding since Jan 2021 and plan to sell -if it works out- at 100 where I will wait for the end of the consolidation period where I will re-enter and hold for another year for capital gains (woohoo waiting!!)
Ultimate sell target: $1,000.00
I know this idea is based off the Short Swap theory present throughout meme stock talk. I believe AMC and GME are the most profitable and I believe the short swap theory is true. When the economy crashes, people will look for anything going up. And when the shorts exit, amc and gme will be that ticket to big gains - the initial cause for the squeeze. The top is impossible to chart.. 1k seems reasonable to me.
Good luck
SPY Rejection: FOMC in the next hourDespite being positive on the day, we saw earlier price get rejected on the upper resistance trend line of our longer term downward channel. The gap up today was interesting, but I am curious to see how this plays out following the Fed decision. Since we have been declining from ATH's, this upper resistance trend line has shown multiple instances of rapid downward movement because of the trendlines significance. Fed decision may fill the gap up we created this morning.
See related links to see the fuller picture and downward channel on a daily time frame.
PFE Trade Idea: Looking to BreakoutPFE consolidation with a symmetrical triangle currently looking like it may break through its upper trend line. With atleast a day or two breaking above, as well as closing, above the upper trend line, it may run towards 58-60. OBV rising with price momentum upwards, combined with a recent reversal into ADX+ (positive directional movement) may confirm this going higher. Solid R/R ratio on this. Will continue to watch and update.
AMC still going higher!AMC
Short Term
We look to Buy at 14.20 (stop at 12.69)
Broken out of the channel formation to the upside. This is positive for sentiment and the uptrend has potential to return. There is scope for mild selling at the open but losses should be limited. Further upside is expected.
Our profit targets will be 18.64 and 21.01
Resistance: 20.00 / 30.00 / 45.00
Support: 14.00 / 12.17 / 10.35
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$LLY looks ready to breakout$LLY daily chart. IT closed nicely on Friday even though most of the stocks were down a lot. After an up move, it is now moving sideways inside this rectangular range. Looks ready for next upmove once we break this range on the upside. Once we break above 335, looking for a 8% up move in this one.
3 within a 3 wave to look forward to for next week.This is how I think the wave count will unfold for next week. Check out my previous post on AMC showing prequel before this move.
AMC Setting up to test resistance at $20The title says it. We have holding up the daily trendline quite good. Lets go!
Major AMC TrendlineAn extended trendline to rule them all. Drawn from the IPO of #AMC, connected to next low on Feb '16. Note all of the interactions and touches. Crossing it is explosive. See June '21 & March '22 runs.
AMC Volatility Incoming Bollinger Bands indicate a splike in volatility in the near future. Will it be to the upside? We will have to wait and see.
XELA ready for the next GME and AMC ?!?!?!Exela Technologies XELA $927 Million volume today reminded me of AMC Entertainment AMC and GameStop GME before they went parabolic!
XELA has a Market capitalization of only 58.56 Million, while their earnings last year were $1.17 Billion.
Exela Technologies is a business process automation corporation that provides industry-specific and multi-industry enterprise software and solutions to more than 4,000 customers spread across 50 countries and employs more than 17,500 employees across 23 countries.
52 Week Range $0.092 - $3.54.
now: $0.132
$927,439,905 Volume Today!
My price targets are $0.415 and $0.73 to be conservative.
It can also be a buyout for a big tech company that wants those international clients.
I think XELA is the next GME or AMC.
Looking forward to read your opinion about it.
AMC - Bullish Wave pattern My technical analysis for AMC and why I am bullish on the stock
Strong support zone between the 15.70$ to 16.10$ area.
Since Jun/22/22, we have been on an up-trend. (Creating higher highs / higher lows)
Waiting for confirmation pullback to support zone
Once the support zone is hit, the next target zone will be the 18.30$ to 19$ area.
Break $72.62 and minimal target is $111If $9.70 is the low now and we can break $72.62 the price targets we can look at are below based off Fibonacci retracements. Fib levels are in brackets
All time high (1) $72.62
Bottomed out (0) $9.70
To validate the price targets below AMC must breakthrough $72.62
In the previous cycle $72.62 was the 4.236 fib extension level taken from its previous cycle top and bottom. So there’s no reason why It can’t reach the 4.236 again.
(1.618) $111.50
(2.618) $174.42
(3.618) $237.34
(4.236) $276.23
I do believe AMC behaves as in a crypto type cycle with bull run tops and bottoms.
If you’re unfamiliar with Fibonacci extensions I highly recommend watching some videos and doing some research on them because they are pretty much the reason prices land where they do.
AMC - Triangle breakout
Clean breakout of the ascending triangle. +++
Good volume - still seems like retail buying though ++
Into the supply zone until 200 DMA around 23, so likely to be choppy until it clears 200 DMA. If it doesn't lift off in next few days, I'd be alarmed and look to trim position. Projection is that it tests 200DMA
Bullish statement for AMCAMC has broken out of an ascending triangle pattern with a technical target to $24.71
Coincidently $24.71 is the line of resistance the price has been stuck under since it put in it’s all time high.
The crossover of the 21 and 55 ema on the daily timeframe is a very bullish statement for AMC. Furthermore, holding the 21 ema on a retrace will put the stock in a prime position for more upside action.
I would expect to see a retrace to $16 to test support of the breakout structure but we all know how violently it can move so don’t bank on a back test.
Not financial advice and just sharing an idea. Trade with caution and stop losses. Never trade with money you can’t afford to lose.
Good luck everyone
Bearish Pennant Break Out & Wave TheorySPX Forming a bearish pennant that is setting up the market for its final corrective wave within the elliot wave theory cycle.
Best case scenario is 3500 level, worst is near 3200. I think that this final corrective wave will not be a slow and steady decline.
Looking for Primary wave cycle Y to get fulfilled.
