History Repeats Itself $AMC?if so, $AMC may squeeze soon...basically to the tick of the May 28th price action.
AMC trade ideas
AMC NYSE Black Mountain Analytical Team:
AMC 3 possible scenarios
Wait for the price reaction to the area and zone.
We will wait for the price reaction to the Resistance line and the static Resistance range. After the price reaction, we can enter.
We are currently monitoring it to catch it in the first price movements.
TREND LINE-Resistance area
A reversal pattern is forming. long if hold above 21. target is 30$ then 45$. very good risk ratio for swing plays. I wish to ride the wave early
AMC squeeze target this weekwe started our squeeze the moment we broke from our ascending line on the 22th of march at 17.77$, yesterday we tested our resistant at 25.50$, and we got rejected with 2h candle, then over come it, now it's out support the 25.50$ , we need to hold above it to confirm the bullish conniption till the 33.87$.
the 20.80$ should be the last support or bottom for us , cause any price drop below , will confirm a sell off, and end to our bullish momentum.
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We all run together so hold the line and break resistance.Look at the peak touch of each resistance point of $AMC/$GME notice not only do these two meme stocks run together but each point is parallel to the other so no matter which one pops we are following a trend.
Resistance LVL:
1st - 32.53
2nd - 35.73
3rd - 41.73
What's next?
4th - 72.62 - Welcome back to June.
BTO $AMC Calls 35 April 8BTO $AMC Calls 35 April 1
BTO $AMC Calls 35 April 8
BTO $AMC Calls 60 April 14
BTO $AMC Calls 50 May 20
AMC Next Price TargetsAnalysis done on daily candles. It was just less than a year ago that the infamous AMC short squeeze took place and markets were introduced to a phenomena called “meme stocks.” A group of savvy traders came together and found highly shorted companies and began spreading the word to buy them up in order to force bears to buy back position to close out. We saw this same scenario unfold in the last week from AMC and GME, with AMC up more than 100% this month alone. Looking at AMC’s current position it can potentially rally further to 33.00-35.00 and a second price target of 38.00-40.00 if it can maintain the 24.50 support. The higher the stock climbs, the more bears will be forced to buy back positions so watch for strong buying volume if trading the stock, but don’t forget to constantly take profits as it pushes higher. It can be in a matter of moments that buyers begin taking profits and the stock declines sharply.
AMC projection going into wave 2 of 5NYSE:AMC
I see a possible scenario of AMC creating an inverse head and shoulders where it fills the gap at 20ish and then starts wave 3 and 5.
AMC Timeframe: Medium Term, Technical: Bullish <$31#AMC (Exited: Trendline, Entered: Bullish )
#Daily
#Technical Analysis
#crevixtrader
AMC - Interesting FormationsI regret not buying $12-13 AMC, I though perhaps there would be more buyers at $11-10 but boy was I wrong. What will happen now? Short squeeze asap (Route A)? Perhaps back test and then up (Route B)? Tough call, definitely seems bullish to me.
AMC, Major Update as promised on 4th Aug 2021 !(( Stopped out. Wave counting need a major update ! )) 4th Aug 2021
(( General trend is still down. There will be a considerable Up going counter trend correction . Then we will have another large down going wave . I will publish the update at appropriate time . )) 4th Aug 2021.
Above are my last two updates on the idea published on 15th July 2021 . We found a possible long setup (See related idea for detail), entered and stopped out and predicted the upcoming path accurately! We promised to publish our update in appropriate time and now its the time !
Weekly chart :
AMC's decline from ATH to current price can be beautifully charted inside a down going parallel channel in logarithmic scale. Decline shows an ABC form of correction which is almost completed while stock is reaching to strong support formed by the area of price action and different Fibonacci levels of different types . This area has been shown by a green box on the left side chart. Also ,Indicators in weekly and daily time frame are in oversold zone.
Daily chart:
We have a closer look to correction pattern shown on the weekly. Wave (a) can be decomposed to abcde components to form a leading diagonal . Wave (c) can be beautifully decomposed to 5 leg impulse down with wave iii and v to be 5 legs down themselves . As shown on the chart stock is completing its wave 5 in circle of v of (c) near the strong support.
Please note this is the best case scenario as emphasized on the weekly chart. It means there may be some alternative scenarios like this whole abc pattern being just wave A of and ABCDE triangle or next move up being just a connecting wave X or....( For different correcting forms possibilities see related idea published on TSLA if you are interested to get more details).
If this proposed best case scenario happens , It makes a new ATH and we can take the advantage of next considerable move up.
Good luck my friend.
AMC Squeeze PredictionJust a quick chart comparing last year's run with this week's price action. If we are only looking at price action, one can assume we are in day 1 of 4 of a prior run-up cycle showing the top to be on Thursday March 31st 2022.
Not Financial Advice - Not a Financial Advisor - Entertainment Only
AMC Just Some CrayonAMC Entertainment has shown the bullish signal and the following points can be considered for the coming days.
1. 1st triangle has broken out and the current price at the time of writing this confirms.
2. Huge resistance at breakout point (1)
3. If it breaks out of point (1) and support zone established at point(2) then the price movement can be expected as per the chart.
4. Ichimoku cloud has crossed the leading span B as per today's movement and its out of cloud formation.
5. MACD line has crossed the signal line on a weekly chart.
6. RSI at 51 on a weekly chart.
Disclaimer: “The above is an idea only and not any kind of financial advice so please do your own DD (Due Diligence) before any kind of investment”.
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