AMC symmetrical pop coming soon... $20-$30I was minding my own business and AMC came across my path, so I took a look at the day chart. I was ready to plan for a put, but saw a series of higher lows. So I drilled in for a better view on the 1hr & there it was as clear as day. AMC is getting ready to breakout of a symmetrical triangle. I have to play this b/c I believe that my chart matches the text book definition as found on Investopedia. Are you going to play it conservatively with me or all the way? Let's set some alerts and win.
Check the charts:
www.investopedia.com
AMC
AMC MOON ?! Elliott wave countIn semi log chart By Elliott wave count indicator we can easily count current wave is wave 4 but we don't know if we are in wave 5 or not, it count be flat correction, current price action still look like bear flag, so price need strength gain momentum to continue bullish, if it break previous high we can more confident it is wave 5, if it break last low which we count c by hand price still correct.
normal target for long is last high.
MARKET ALPHA - HOW TO FIND TRENDLINESIt's extremely important to look at price action where you are looking to place your trendline.
What I like to first start off is with looking at the areas where we have seen either gap up or gap downs. Starting at the most significant relative area to my analysis, I will continue that line, scoping out other gap areas if within reason. Some are very obvious. This one was one of the easier ones to spot.
I would recommend going over this chart and looking to see what it was buyers AND sellers were thinking at that moment. Would a skeptic seller have to become a buyer? Could buyers be running out of cash or is there enough liquidity to keep the stock down? This is where technical analysis comes in. It helps you understand the more important levels easier and faster.
I hope this helps.
Enjoy!
NYSE:AMC
NQ - Fridays / ES YM RTY TLT ZN AMC TQQQ CLNQ is the last to break.
It's Friday.
The FED is providing $8.34 Billion in Coupon Purchases.
1/4 to 1/2 Size today.
We will be watching until 10AM EST, to see IF there is
support of any kind.
Selling pressure yesterday was significant, but
again... it's Friday.
Commentary from 2 prior Sessions does not change.
Have a good weekend - HK
AMC Shares Can Continue To Rise: Pattern FormingTraders,
AMC shares stabilised and started to rise. The price is forming a good W pattern which means that it can go higher from the current level. For the bullish move, we can target the FCP zone.
Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too
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-Vik
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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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Market Alpha Watchlist - ANYNASDAQ:ANY
This stock just recently did a direct offering to fund the purchase of cyrpto mining tools. That looked like it was going to bite them in the butt yesterday but with the flash sale and subsequent recovery, ANY might be a good choice as long as their is no funny business in regards to stock manipulation. Buyers are here and are interested in this stock.
My conviction on this stock comes from the option chain where we saw massive option buying take place yesterday on the call side.
Is this the silent before storm?AMC short-sellers opened 8 million new positions in the second half of August..!
Short Interest (Current Shares Short) 92,420,000 increase +8%.
Based on the trading volume, it takes less than 1 day to cover ..!
This time we may not see a bold rally!
September 17 is the Quadruple Witching and we will have the answer by then..! (8 trading days)