AMC - UPWARD MOVING CHANNEL
AMC reversed its negative trend and started an upward moving channel 2/10. Without a -10% decline today SSR does NOT apply, so expecting heavy manipulation from short selling hedge funds creating some downward pressure. Despite this, there was an occurance of the same bearish indicator that happened a day (17 bars) before the short squeeze earlier this month. With RSI currently below 45 the stock is oversold and has been for the past 5+ trading days as we begin to bounce of off strong resistance at $5.40.
Chart is telling me we should see a breakout 2/11 mid-day possibly over $7 followed by a more aggressive squeeze with higher volume 2/12 sending the sp to $11+
GLTA, Thanks for stopping by
Chart is telling me we should see a breakout 2/11 mid-day possibly over $7 followed by a more aggressive squeeze with higher volume 2/12 sending the sp to $11+
GLTA, Thanks for stopping by
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