So there are a few trend lines that I've been tracking that date as far back as the June 2021 run up (Purple).
We are currently surfing along the top of this Purple trend line and, with the help of some kind of catalyst (earnings is right at the closing point of the trend line) and some high volume, I think we are ready to fly.
The Orange and Green trend lines will likely be resistances on the way up, not sure exactly how strong as AMC is known for busting through resistances on the 4th touch.
The Blue trend line hasn't been tested as often so I can see somewhat of a pullback once it touches it, but ultimately I think AMC is at least a 10$ stock, so earnings should help it get at or above that level.
This has been your BroStock Science of the day. Time will tell.
We are currently surfing along the top of this Purple trend line and, with the help of some kind of catalyst (earnings is right at the closing point of the trend line) and some high volume, I think we are ready to fly.
The Orange and Green trend lines will likely be resistances on the way up, not sure exactly how strong as AMC is known for busting through resistances on the 4th touch.
The Blue trend line hasn't been tested as often so I can see somewhat of a pullback once it touches it, but ultimately I think AMC is at least a 10$ stock, so earnings should help it get at or above that level.
This has been your BroStock Science of the day. Time will tell.
Comment:
A bit late on the update but we had a proper bounce off the Orange trend line on the week of March 13.
Waiting on a surge above 6.50ish and then a bounce off the Green trend line, then a shot up above 8.50-9 (depending on how long it takes to happen) before we see no-man's-land.
Godspeed.
Waiting on a surge above 6.50ish and then a bounce off the Green trend line, then a shot up above 8.50-9 (depending on how long it takes to happen) before we see no-man's-land.
Godspeed.
Comment:
We are getting real close to the Green resistance line. I'll speculate that earnings will push us above it and towards the 8$ range (Blue resistance).
Adding to my position. NFA
Adding to my position. NFA
Comment:
Still tracking, just taking it's sweet time and compressing as much as it can.
Expecting a move above the Green resistance to 6.20ish by the end of the month
Expecting a move above the Green resistance to 6.20ish by the end of the month
That leaves two more strong resistances to cross before Valhalla:
1. Green (which dates back to Jul 21st 22), where we have to cross around 7.30 and
2. Blue (which dates back to March 29, 2022), where we have to cross around 9$ (depends on when we challenge the resistance)
I can see the green resistance getting crossed easily considering we've already bounced off it 3 times (halted before touching it on Feb 6th) and blowing up over it before the creation of APE in August) vs the Blue, which has only been challenged 2x.
AMC has a history of breaking through on the fourth test of a resistance.
Let's see.