Disclaimer: I do not hold any position in AMC, Strongly believe that it is irresponsible to invest in like of AMC or any "meme Stocks" one way or the other I am putting this analysis for those who are curious, may have positions and are panicking! Without any fundamental bias.
There are big support at 17.50 - 18.00. Below this level your next support is at 12.00 this trade is a short below 17.00 and is good for a shot term long if 18.00 is defended. Volume was not significant on Friday, there for it doesn't make a case for strong rebound on Monday. Bulls should be very cautious as 17.50 support was breached on Friday but defended. May the market continues its down trend course from here and AMC closes below 17.00 it has small chance of recovery to 22.00.
Breas, if you think if the market continues to be on your side you won't have much difficulty making some profit all the way down to 12.50! 5 points on 18 dollar stock is a fantastic profit in my opinion however, as I mentioned above there wasn't much logic behind meme stocks in 2021, is 2022 going to be any different it yet has to be seen!
There are big support at 17.50 - 18.00. Below this level your next support is at 12.00 this trade is a short below 17.00 and is good for a shot term long if 18.00 is defended. Volume was not significant on Friday, there for it doesn't make a case for strong rebound on Monday. Bulls should be very cautious as 17.50 support was breached on Friday but defended. May the market continues its down trend course from here and AMC closes below 17.00 it has small chance of recovery to 22.00.
Breas, if you think if the market continues to be on your side you won't have much difficulty making some profit all the way down to 12.50! 5 points on 18 dollar stock is a fantastic profit in my opinion however, as I mentioned above there wasn't much logic behind meme stocks in 2021, is 2022 going to be any different it yet has to be seen!
Not a Financial Advise, I may have an open position in this underlying.