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AMR

AMR, Strong bearish candle below 143 triggers a safe short entryAMR MAY offer a fresh chance for opening a short position ! Stock has recently lost 50 day moving average which now acts as strong resistance . Stock struggled 4 days to take this previous support back and was not successful at all . AMR also, lost the last low ( marked by arrow ) which is a sign of trend reversal . In addition, It has completed the pull back to both lost low ( related resistance has been shown as a horizontal red line) and 50 days moving average. Only remaining condition for opening a safe short position is a strong bearish candle below the cluster of candles shown by a circle. Stop loss can be a bullish candle above mentioned cluster and 50 days moving average. First target is around 104 and second target is around 70 therefore Reward/Risk ratio is extremely high . I myself took higher risk and already opened a short position by using Elliott waves in Hourly time frame which can be reasonable considering market condition and sentiment however, more safe entry condition is explained above. Hope this to be useful and wish you huge profits.
NYSE:AMRShort
by SaeedSajedi
21
Not so Alpha anymore, AMR. AMRGoals 85, 77. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
NYSE:AMRShort
by Rykin_Capital