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AMC Stock: Reversal in Sight? Long Opportunities Ahead!Hi fellow traders! 🚀 AMC has been tunneling down in a steady downtrend on the 1H chart, but things are looking up! Recently, AMC broke out of its range, found solid support, and respected a new bottom – a promising sign that a reversal pattern is forming. Here’s the current technical setup: Support Levels: $4.00 Resistance Levels: $4.30, $4.63, and $5.00 $5.00 aligns with a higher timeframe Point of Control (POC), making it a critical level to watch. The stock has shown strength at the $4.00 support, suggesting a good base for long positions. The price action is beginning to favor the bulls, and if momentum builds, we could see AMC test higher levels in the coming sessions. 📈 Trade Idea: Look for long entries near $4.00 with a tight stop below this level. Target the resistance levels sequentially: $4.30, $4.63, and $5.00. Watch for volume confirmation and further signs of bullish momentum to validate the move. 🌟 Sentiment: Positive The technicals suggest we may finally see a shift in trend. Keep an eye on $5.00 as a significant hurdle, but the path to the upside looks promising. Let's ride this potential reversal to the moon! 🚀 What do you think? Share your thoughts in the comments! 💬 #AMC #StockTrading #Reversal #BullishTrend
NYSE:AMCLong
by Crypto21Official
1
Low cap MEME coin, good price structure, price events analysis$HONK price history and some events key points for new investors. 1. On the evening of 13 April, Iran launched a drone and missile attack on Israel. Altcoins market dumped hard while $HONK recovers quickly, breaks 33 days downtrend and enters accumulation zone where people are not selling below 0.004800 - 0.004550 for around 22 days. 2. On 8 May, selling was initiated by mainly one big wallet followed by couple other bigger wallets and some panic selling from smaller wallets. 3. $HONK bottoms as it’s ~95% down from ATH, volume (USDT) drops ~3 times, trend reverses to upside and within 10 days price goes up by 300%. 4. Price bumps into major resistance point at 0.008100 where swing traders who bought earlier at the bottom are taking profits. Price falls back into accumulation range. 5. The price is pumped by one wallet (~130k USDT) and later on dumped for a loss. 6. Price is back to accumulation range, low volatility, people are not selling below 0.004550 Supply and demand are about the same. Which direction $HONK goes? Bullish scenario. Key things. 1. Price is currently within accumulation range for around 30 days as people are not willing to sell bellow 0.00450 which signals strength. The panic sell was caused mainly by one big wallet which was bought back quickly (positive hands change (300 new Telegram group users within 10 days)). If $HONK continues to stay within accumulation zone and considering bullish market sentiment as majority anticipates bull market to continue with full swing, eventually there should be less supply and more demand which would move price up. 2. $HONK is 5 months old and low market cap. It’s not so immature like few days to be based on extreme speculation and gambling. Yet it’s not so old to have bigger market cap and give less potential upside reward in multiples. It’s 5 months and it has decent price structure: 95% retracement from ATH, bottom reversal, nice accumulation range and as it’s low market cap it has potential of 300x once the bull market fully kicks in and money starts to flow in. 3. Telegram group is shilling on Twitter every day, new exchanges and more marketing within time. Bearish scenario. Key things. 1. People might sell $HONK as they chase other coins pumping (careful, don’t get REKT). In such case I would expect $HONK price to slowly bleed over time and reach lower price demand/support levels like 0.003200 before bouncing back up. 2. In worse case scenario if Bitcoin experience major pullback below 55k I would potentially see $HONK slowly bleeding down to 0.001850 and forming double bottom on weekly candlestick before going up. 3. How likely for the price to go below 0.001850? Considering bullish crypto market sentiment and anticipation, new money flow in, meme coins leading the way, $HONK having maturity of 5 months, good hands change over the time, good price structure I don’t see price reaching lower bottom (maybe if whole bull market is cancelled, extremely unlikely). Overall, I think $HONK investment offers good risk reward ratio as in a short to medium term the price might dip lower but in a long term within next 6-12 months it can go up 300x.
Long
by quackquackh
1
Cisco Cup and HandleI noticed a Cup and Handle pattern forming on Cisco Systems - ticker CSCO, on the daily level. What will be my entry points and what are the things to consider: 1. My entry would most likely occur today, 19th of July, since I think that the stock will break from smaller moving averages once the market opens. Those moving averages are 10 and 20, my entry price is sitting at around $52-52.5 price level. 2. Stop loss for this position, in case something goes wrong, will be put at around $49.95 price level, which is just below it's previous low and way below the 10 and 20 moving average line, and around 50MA. 3. My profit point is sitting around $59 price level, but that doesn't mean that I will be exiting my position there. It means that if the price action is strongly acting bearish that I will close my position. If price action is in a strong uptrend, I will surely keep the position open. 4. I am planning on adding to a position at $58 price level, of course, if the price action is going as it should - pointing to a strong bullish move. I will make sure to update this buy opportunity, but please make sure to do your due diligence when investing.
NASDAQ:CSCOLong
by De_Banis
2
AUDJPY LONG PROJECTION UPDATEAdjusted trendline on H4 as a bullish harami pattern formed which respected the new trendline. Sellers were pushing the market lower until price started to climb again after the formation of the bullish harami and the trendline being respected indicating that sellers are loosing power. Temporary move to the downside doesn't necessarily mean a change in direction of the momentum but we have to look if the market is either retracing or pulling back; in our case it was a pullback since the downside movement wasn't that hectic or require Fibonacci retracement. Using a lower timeframe can make you fall victim to retracements and pullbacks thinking that the trend bias has changed whereas if you focus on higher timeframes from H4-Weekly you'll be able to see the bigger picture instead of a temporary move.
Long
by Fxi_Fe
06/02/23 Weekly outlookLast weeks high: $24279 Last weeks low: $23381 Midpoint: $22482.5 More of the same consolidation and choppiness last week as the week previous, with FOMC propelling BTC to a high of 24.4k, still short of where I feel like most people have their shorts positioned around 25k waiting for a swing fail. It would not surprise me if we saw a local high for a little while and BTC drops to the 21.5k range before any further leg up. With a large FVG just under the 22.3k area looking to be filled, this is where I'm looking to do business. Short from current level and long from 21.5
by ProR35
DONT FOMO INTO LONGS JUST YETWe are all looking at the same chart and thinking the same thing. SPY COULD have a serious bounce on the 200ma with a POSSIBLE bullish divergence on MACD and RSI. Many have already begun to FOMO into a possible year end rally as we have been rallying hard the past few days. This year is also a midterm election year (midterm election years usually have a rally beginning election time into the middle of the following year). However, this years year end rally is still not confirmed and going bullish so early would be disrespectful to the insane bear market we are having. Expect a retest of the 200ma in the coming weeks with the price coming back down to ATLEAST between 265 to 260, if not lower. If it holds, there is a definite possibility we could be testing 400 at the end of the year to beginning of 2023. However, for this upcoming month I am expecting us to be range bound. There are so many big earnings with banks reporting in the third week and big tech reporting in the last week of the month. Expect for us to have a better direction beginning of November. Also, do not be surprised if we do not bounce at the 200ma. This bear market is no joke. If earnings are bad and we break down, be ready for a possible 320. Also note Credit Sussie CEO will deliver their turnaround strategy on OCT 27, aligning perfectly with with the end of big tech and bank earnings. How the market reacts to their strategy will also weigh into the direction the market will take to close the year. Till the breakout in either direction is confirmed, be smart and play the range that will form.
AMEX:SPY
by MoRafi