AMC Price Play!! Market MovePrice range within yellow box, total market change possible on 20,21 July price spike either side.
If play as normal price action will see ranging. Keeping track...
Amcentertainment
AMC Fibonacci Levels Trend AnalysisThe cat's outta the bag with AMC ...it's a popular stock I guess (joking). But all jokes aside, the apes remain steadfast in their message but it's also time to revisit the technicals. After retracing from lows earlier this year, the Fib levels and current support/resistance areas on the chart seem to be lining up. The 50 Fib line is clearly a pivot that used to appear as a support level that AMC would test but not break below. Now that it has AND after breaking below the 50DMA, you can see that AMC has gotten denied multiple times not only at the 50 fib but also at the 50DMA. The big question for the week is can this fib area see a break and hold above or will the consolidation trend remain intact?
Obviously, apes will be apes and fight to the death but making money is nice too and understanding levels of potential support and resistance are important no matter if you're looking for profit targets or areas of potential buy opportunities. The bigger focus I think may be on what happens at the shareholder vote on the 29th at the AMC annual meeting. There were more details outlined in that proxy statement filed by AMC earlier this month .
AMC Broad Bottom FormationWell the bottom was called at 32.88-we got that at the opening bell. Been watching this develop and I think we should have a crab pattern forming. This is not a deep crab pattern, but a very modest one with a take profit 1 around 40.15 - and should continue up if it does not reject. As this develops look for upside from here.. if we go down further than it will negate this pattern. So set your stops. AMC was a bit of a nightmare for the unexpected, but we called this short and the bottom... I am looking for some upside. Shorts are set just in case.
Bitcoin 2017 peak compared to AMC Bitcoins price action in 2017 saw price move from 650 to 20,000. This chart is looking at the price action after the December 11th 2017 peak. AMC's recent price action looks similar. Here is the chart showing bitcoins journey in 2016-2017. After the peak, price retraced 87% of its original move. I show this level plotted as a custom fib retracement level. The move from peak to trough lasted almost exactly a year. Price then swung up to the next level that I plotted which is another custom fib level of 31%
The same levels applied to AMC appear on the next chart:
This scenario would put AMC at around 12 bucks at the end of May 2022. Of course, we know that Bitcoin subsequently went on to gain over 2000% from its 2018 low. So if AMC follows a similar path, it would bottom out at $12. Consolidation would then occur between $12 and $50 for quite some time.
Then AMC could possibly skyrocket to somewhere around $250. Food for thought!
AMC Entertainment retracement levels for a possible bounceOn the chart you can visualize better the 2 Fibonacci retracement levels from where we can see a potential bounce up and the strong support in the 16usd range.
All retracement have also the price targets on that arrows heading up after reaching the various support levels.
AMC Letss gooo !!! Will see some sideways movement this week ! But AMC is getting stronger and could see some retesting on the 38 and shoot back up to the 49/50 area !!!
MY TOOLS FOR TECHNICAL ANALYSIS:
I. MOVING AVERAGES (SIMPLE, WEIGHTED, EXP)
II. TRENDLINES
III. FIBONACCI
IV. ELLIOTT WAVES PRINCIPLE
V. MACD (TO FIND DIVERGENCES)
Lower High, Lower Low - Daily chartAMC showing signs of a further correction. possibly to retest previous all time highs
AMC Bullish Gartley PatternHere we are looking at Heiken Ashi candlesticks to get a better picture of the overall trend in AMC over the past couple months. The RSI and MACD both at neutral/oversold and look ready to reverse to the upside. Price tested lower bound of Bollinger Bands and bounced HARD back above it. A bullish Harami was created friday July 9th indicating a possible reversal of the short term downtrend. From the run up starting May 24th we can draw a bullish Gartley harmonic. If this harmonic pattern holds to be true the next Bullish PT would be 162% fib extension of the first run up and retracement which indicates a price of roughly 138 in the near to mid term future. Also worth noting, the highest strike call on AMC is currently 145.
AMC - Eyes up! AMC - is about to show Wall St who's Boss... If you know anything about chart patterns, Check out Ascending Triangle. <3
MONEY REELThis is by no means a negative outlook on AMC, but a more realistic one. There are two options for the path of the stock displayed above.
AMC in a tough spot. Is there any hope?AMC definitely not looking great. No matter how I try to see this, I don't feel like this is a super bullish chart? AMC got above 30B in Mcap after a major squeeze and was one of the meme stocks that did very well. In Market cap terms it was definitely the largest ever if I am not mistaken. The truth is that the short interest is still relatively high, but I don't think the previous squeeze was primarily a short squeeze. Currently at 18% of FF maybe AMC manages to have another push.
33-36$ is a key support area as 33$ was resistance back in 2015 and has now turned into support. There are some levels also lower that AMC could find support but I don't think such an explosive move would happen again. The CEO has definitely tried to squash the rally by selling as much stock as he could, but even with all of that the company is still 6B USD in debt and only has 2B in cash (so still not in great shape).
So for now in my opinion AMC has to hold 42$ for it to continue higher soon. So far it has broken some key support levels and the downturn accelerated which isn't great, but as 40 has held there is still hope. In my opinion if it manages to close above 60$ next time around, I think it will go much higher. Essentially waiting for the breakout trade or to buy below 36 might be the best idea for now.
AMC possible bull pattern?Chart posted 7-6-2021 approx 9:32am ET. The AMC was previously playing out bearish sentiments(3 falling peaks confirmed) , but there has been some conflicts in pattern development that suggest we may get some upside on this to fake it back to upside.. some poss. significant upside. The key here will be to watch the price action. The support line is shown. If it break below that then we are bearish in the short term and the original chart plays out. However right now we do have a bullish pattern forming and if it supports it definitely goes hard to the upside- but price action is key at this stage. Any price below the decision support lines is bearish 48-45 is bearish (see original chart linked below for target ). If we remain above the decision levels or bounce off them- there could be opportunity for some gains- even if the bullish move doesnt play out. These patterns are aggressive. If bullish pattern plays out expect price level so rise to target area. There may also be additional patterns to form between now and the time we can confirm the movement. The key on this are the support decision levels- watching the price action. Also, does price stay out of the diagonal parallel pattern. So far it has. This, bounces off support, and hard moves upside are keys to bullish pattern.. weak moves are signs of the bearish shark playing out. The bounce of the #1 decision line appears to be weak so far, but lets see if we get additional tests.
AMC NEXT MOVESlike you see AMC is developing nice Ascending Channel from may 21 there is nice potential moves for next day's if today will some bounce or touch on the channel can make us very bullish todays Support Resistance on my chart is (39.29$-47.71$) and one more like you see rsi is near at 42.12 last time touch 42.12 on rsi at daily chart was on 06 may after it amc start uptrend and developing rising wedged so there we have some interesting days to watch
Sorry diamonds handsThere is not a good scenario for AMC.
I think this is filling the gap.
Time ti rotate to anoter stuff?
Double Bottom?Could be looking at a double bottom here, if so next weeks going to be nice :)
Keep up the good work apes!!!
AMC Update [7-7-21] - Possible Upcomin Correction / Value Areas.AMC showed weakness at the ATH, so we may be getting a correction here. If so, we just need to see when it is done correcting and establishes a floor.
If it stays above $40 AND establishes a floor here, that's a great sign. However, if it falls below $40, we are looking for it to establish a floor at the next two levels. If it breaks below that and goes to the Strong Support... then we may be in for a LONG summer. So watch these areas and we will see.
The lowest I can see it dropping is $22 but I highly doubt that will happen. If it does drop there and stays in that range and creates a floor there though... that would be a HIGH value look for entries/add ons.
AMC LONGGGGGGGGGGSUPORT 51.07 AND 45.33
TARGET 65.73 - 73.48 - 95.37
THIS STOCK IS HIGH-RISK HIGH-REWARD STOCK BUT ITS WORTH IT!!!!
AMC: Hype or Hyper? 💣💣💣In our analysis of the AMC stock, we expect the price to explode quite soon… again. Before the price hits $37.71, we expect the course to turn around and push for prices around $95.17 and potentially higher, if the stock price breaks out above $101.17.
Clear thing: Hyper!
Bullish Trend Continues for AMC | Breakout on the HorizonEven with the pathetic attempt to create FUD by the media and Iceberg "Research", AMC is still plowing through the bull flag. Observing the way it bounced off that bottom edge of the triangle makes me even bullish than I already was. AMC is NOT comfortable outside of the channel. Consolidation continues with a breakout to the upside on the horizon.
