AMC
A lot of bag holders were left with no popcorn
Between 2020 – 2021, AMC found bottom at support area of 2.13 and ranged between there and 7.52.
Late Jan. ’21 price made a parabolic move and broke out of that range.
Price from there fell but continue to move and make high lows.
May ’21, price found support from the 20ema at 12.20 and made another parabolic move topping out at 72.37 by June’21
Price came down and broke 20ema trend on July ’21. The parabolic pump was short lived.
Price then started to consolidate after losing trend and entered a symmetric triangle making lower highs.
On Dec. ’21, price broke down from triangle. There was then a pullback and a break of the lows. AMC has entered a downtrend. There was also a death cross confirming the bearish conditions.
Currently, price finds itself in a sideways between 15-19 rejecting the 20 ema.
MACD is in bearish territory and crossed under its signal.
Will be entering trade short
Entry: 14.88
Stop loss: 16.71
Target: 10.50- +29.44, 2.39 RR ratio or will trade 10ema
A lot of bag holders were left with no popcorn
Between 2020 – 2021, AMC found bottom at support area of 2.13 and ranged between there and 7.52.
Late Jan. ’21 price made a parabolic move and broke out of that range.
Price from there fell but continue to move and make high lows.
May ’21, price found support from the 20ema at 12.20 and made another parabolic move topping out at 72.37 by June’21
Price came down and broke 20ema trend on July ’21. The parabolic pump was short lived.
Price then started to consolidate after losing trend and entered a symmetric triangle making lower highs.
On Dec. ’21, price broke down from triangle. There was then a pullback and a break of the lows. AMC has entered a downtrend. There was also a death cross confirming the bearish conditions.
Currently, price finds itself in a sideways between 15-19 rejecting the 20 ema.
MACD is in bearish territory and crossed under its signal.
Will be entering trade short
Entry: 14.88
Stop loss: 16.71
Target: 10.50- +29.44, 2.39 RR ratio or will trade 10ema
交易結束：達到停損點
Stopped: Stop loss: 16.71Will look to reenter if candlestick reversal @ resistance @ 19.38 or 50ema
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