AMC
AMC bounce. looking to retest shorting lines 4.47 and 5.52$AMC this baby hasn't had this kind of volume since last summer. spring is here. recession is here. potential squeezer.
Market is very volatile right now. If the QQQ is up, this is a favorable trade in my option. If it is not, this trade remains a short for me. QQQ has a lot of room to go down right now march 3/23 at night. If AMC doesnt break down, consider this one on your list for when the QQQ Nasdaq, on which it is listed; bounces +++//// and or when the SPY bounces.
APE this weekAMC/APE has their vote for a 1:1 conversion on Tuesday 3/14. All AMC and APE votes will be counted but due to the pending lawsuit only the AMC share count will be released to the public. If the vote for conversion and reverse split with AMC shares only is a Yes vote to both then the lawsuit will essentially be null and void.
If this happens the APE price by Wednesday at open will imo will at least get to the neckline of the Inverse H&S at $3.50. I believe as soon as the dismissal of the then defunct lawsuit is announced the target for the pattern of ~$6.35 will be hit shortly after as long as AMC does not crater with the announcement. In that case I expect both to converge in the $4-5 range while awaiting the conversion and reverse split.
If the initial vote with AMC only shares is a no then I expect APE to go towards $1.20 support with a massive upwards move on AMC. I find this scenario much less likely.
Looking at the APE chart there are so many indicators pointing to the 3.50 target. Bullish divergence on RSI and volume, the shoulders at near an identical level, RSI very oversold etc.
Not financial advice but a lot of money to be made with minimal risk here.
APE - Potentially UndervaluedAPE is finally consolidating near the 200ema and seems to be holding. We are slightly overbought but I think there is an argument for accumulation. I got limit filled around 1.79 , Not financial advice, DYOR.
AMC bounced off Fib 0.618 Levelon the retractment of the prior uptrend and appears
to be setting up a new uptrend with a K/D line cross
under the MACD histogram and rebuilding of relative volume
The last uptrend was 70% . Could this happen again next week?
Earnings were decent. Price is sitting above the support of
the Ichimoku Cloud and ready for more accumulation towards
a build of momentum.
I will play this with call options for 3/17 at a strike of $6.00
knowing the support of the fib level ( gray box on chart)
is above that. Hope for 2X ( 100 % profit) in 5 days or less.
Short interest - short squeeze potential - $$$
$AMC $8 squeeze imcoming! HSBAF$4 support has been taken out.
currently at $5
LEVEL 1 resistance @ $5.33 (fill gap from 02.01.23)
LEVEL 2 resistance @6.80-6.90 (take out YTD highs from 02.06.23)
TP @ 8.50 for strike (12.01.23 highs )
EXP 4/21/23. As soon as we get over $8.50 or even above the $7.75 range more volume will push this stock higher.
AS LONG AS WE DO NOT RETRACE UNDER $4.50 I HAVE FAITH THIS WILL TAKE PROFIT.
$8 AMC This WeeK?If you know me well, you know I HATE trendlines but the bull flag on the hourly is looking quite nice. Look for a retest around $6.00-$$6.05 for buy positions. Looks like we started around $4.50 to get us to $6.70. If the lower end of the bull flag is $5.70 then we should be able to hit $7.70+ easily either after earnings or in the following days/weeks.
NAS100 Signature W patternNAS100 has formed its signature bottoming structure after a big correction, in this TA I will show you how the NAS100 time and time again forms W patterns before reversing to the upside .
There plenty of examples showing this fractal playing out over the last 10 years , here are a few.
As you can see every time this pattern forms its the bottom before a wave to the upside. I couldn't find one instance where the NAS100 formed a W pattern and we crashed to the downside.
I'm not calling a bull run but a multi month rally to the 8/1 Gann is in the cards , heck the technical target breakout alone of this W pattern is 13700 which puts us at August 2022 high.
Tonight we have FOMC meeting so like always there will be a lot of volatility so best to stay out of any leverage trades till tomorrow.
Keep in mind that the NAS has pulled back nearly 8% before heading higher coming out of these W patterns.
Do not be fooled by movements next 24-48hours , this W pattern has very high success rate!