DarthTrador

$AMC - Is this the bottom?

Long
NYSE:AMC   AMC Entertainment
Truth is I don’t know. But on the (D) timeframe we first see a Bearish Engulfing Candle which is usually a bad sign. However we also see a Dragonfly Doji which is a bullish reversal signal. The long tail of the Doji shows us that there is strong buying pressure @ the $29.38 area. This Doji also created a double bottom and suggests that we are bullish for at least the short term with the MACD curling up. If this pans out we may see $AMC test the $37 area next week. LMK what you think!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.