- Block all the noise and look at this technical analysis.
1- When the uptrend started since AMC bottomed at $5.50 the 100 EMA line has never been broken. FACT
2- The 20 EMA line has been holding and dictating the price overall. FACT
3- The 200 EMA line has not been touched at all since the uptrend. FACT
4- The 200 EMA line held very strongly against the correction that took place from $20 to $5.50 for a few weeks. That's impressive. FACT
5- At the point we are at today if the price dives to 200 EMA line it would reach $9.67. FACT
6- Consider the risks: I don't know about you but if that was to happen that would be a great point to double down considering the history of the 200EMA. As a matter of fact the price would most likely sharply rebound from there. (Not financial advise but that's the conclusion that this simple technical analysis presents.
7- Consider the upside: If it goes upwards it will consolidate in the $17-20 range most likely/ or just rocket ship considering what's going on.
8-Realize that the biggest battles were fought to keep the price at $5.50 for entire weeks, 8.01 and so on.
9- HOLD (Fact)
10- Not financial Advice (Just DD)
1- When the uptrend started since AMC bottomed at $5.50 the 100 EMA line has never been broken. FACT
2- The 20 EMA line has been holding and dictating the price overall. FACT
3- The 200 EMA line has not been touched at all since the uptrend. FACT
4- The 200 EMA line held very strongly against the correction that took place from $20 to $5.50 for a few weeks. That's impressive. FACT
5- At the point we are at today if the price dives to 200 EMA line it would reach $9.67. FACT
6- Consider the risks: I don't know about you but if that was to happen that would be a great point to double down considering the history of the 200EMA. As a matter of fact the price would most likely sharply rebound from there. (Not financial advise but that's the conclusion that this simple technical analysis presents.
7- Consider the upside: If it goes upwards it will consolidate in the $17-20 range most likely/ or just rocket ship considering what's going on.
8-Realize that the biggest battles were fought to keep the price at $5.50 for entire weeks, 8.01 and so on.
9- HOLD (Fact)
10- Not financial Advice (Just DD)
Comment:
100 EMA held up. Maybe some side way consolidation movement coming up. I wouldn't make rushed decisions here yet
Comment:
Expecting a strong bounce from these levels the next few days. Might see a bull wick around $9.70 range followed by a sharp reversal. RSI is dropping and heading towards oversold territory <30.