creamsicle

creamsicle

The green uptrend channel that started from the end of MAY is being tested after today's failure to break($63) the wedge/triangle at its upside. Previous breakout attempts above $60 levels all seem to have been trying to test the clean break of this wedge/triangle, which only has 1-2 days left to close. I think AMC has more chance of breaking the triangle at its...

creamsicle

AMC had a nice clean breakout of $60 to nearly $65 at its intraday high, but it could not sustain its momentum when bears pushed it down hard during midday to bring the price back down below $60. Today(6/15/21)'s price action suggests two scenarios in technical analysis perspectives. First, bears could have made a bull trap as the daily time frame shows the body...

creamsicle

The upward channel is still intact if ~$12 price point from the last week of May is considered to be the start of the major short squeeze that people had been anticipating. Since reaching the all-time-high ~$72, the stock has been unable to breakout of its downtrend. Because of its massive movement in price and inevitable volatility that follows, it can be argued...