Without securing price action above $60 during the pending upside swing, AMC faces a very steep drop below $10, more likely to find support near $5. Considering the trending upside move and its 3 wave structure, this eliminates the possibility of AMC being in true impulsive form.
Comment
⋅
upside corrective (B) wave seems to have completed already in all likelihood.
AMC could be on its way to sub $5.
Comment
⋅
An update on AMC's precarious scenario:
Comment
⋅
Any takers on this stock sinking below $5?
Comment
⋅
flush out!
Comment
⋅
How much could you have saved during this 50% drop?
Trade closed: target reached
⋅
new ATH likely to come for AMC. decent buy zone.
Order cancelled
⋅
Update: AMC is likely due to see new all-time lows in the weeks ahead. Formation doesn't speak to any upside before then.
so you were short but now are going long, i am confused?
DigitalSurfTrading
⋅
@Winks01, i only conducted analysis against AMC, took no position as i expected a different (macro bullish) pattern to take this below $5. instead it seems that the structure will break and make a new all time low.
jfenxme
⋅
charts cant draw ahead of a sentinel event...this projection of yours will one day be a meme in itself
Intraday_Latte
⋅
@jfenxme how feel now? I've been on 3.77 since July.
DigitalSurfTrading
⋅
@Barter_Simpson, watch out for a new all-time low.
DigitalSurfTrading
⋅
@jfenxme, if it is to be a meme, its because i thought support would come at $5, instead its more than likely due for a new all-time low :)