AMC is very very close to breaking out of this ascending pennant.
It is in an extremely similar set up as it was before it broke to the upside from $10-$70.
Since that explosive move, price has not closed below $30 showing strong buying at this level.
The RSI has a very similar setup as well.
I expect a break upward to $100 with a possibility to reach $130.
($100 comes from a repeat of the $60 move and $130 comes from cloning the trend line from 10-70 and putting it at the apex of the current formation on the log scale)
AMC is also doing a lot of fundamentally bullish things too such as allowing crypto payments.
GME is also in a similar place on the charts, I will post that analysis next.
Let me know you guys thoughts!
It is in an extremely similar set up as it was before it broke to the upside from $10-$70.
Since that explosive move, price has not closed below $30 showing strong buying at this level.
The RSI has a very similar setup as well.
I expect a break upward to $100 with a possibility to reach $130.
($100 comes from a repeat of the $60 move and $130 comes from cloning the trend line from 10-70 and putting it at the apex of the current formation on the log scale)
AMC is also doing a lot of fundamentally bullish things too such as allowing crypto payments.
GME is also in a similar place on the charts, I will post that analysis next.
Let me know you guys thoughts!
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