This is the resistance on AMC that you want to see broken! 😎
Yes, we are inside a range, and it is pretty easy to trade ranges: Buy near 51.87, sell near 64.95. I like to trade ranges because the stop-loss are always so small, and the potential reward are always great.
Now, AMC might hit the 64.95 again. The breakpoint is the 60.23, once broken, this will lead AMC to the upper level of this congestion.
The 20ma is pointing up, and this is very good.
It is pretty rare to see the RSI near 100, and AMC is one example of this weird phenomena. Is there a possibility that it’ll break the 64.95 and fly to the 80s, or even 100s? Yes, and that’s why we must be careful here. Personally, I don’t like to short these stocks, just to buy near supports and see what’s the deal.
The black lines are seen here once again to help us understand what’s going on, and which points we should trade. Now I would wait for AMC break the pivot in the 30min and hit the 64.95 again, before anything else.
If you are holding AMC, the 64.95 is the breakpoint you want to see broken.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
Now, AMC might hit the 64.95 again. The breakpoint is the 60.23, once broken, this will lead AMC to the upper level of this congestion.
The 20ma is pointing up, and this is very good.
It is pretty rare to see the RSI near 100, and AMC is one example of this weird phenomena. Is there a possibility that it’ll break the 64.95 and fly to the 80s, or even 100s? Yes, and that’s why we must be careful here. Personally, I don’t like to short these stocks, just to buy near supports and see what’s the deal.
The black lines are seen here once again to help us understand what’s going on, and which points we should trade. Now I would wait for AMC break the pivot in the 30min and hit the 64.95 again, before anything else.
If you are holding AMC, the 64.95 is the breakpoint you want to see broken.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.