There is ALOT going on with AMC. This is in part due to the many critical sup/res areas all around it and this is resulting in a game of price-ping-pong. However, I Feel that in the next 1-3 days we will see a move in 1 of 2 ways as illustrated in the chart.
Yes there is a lot going on in this chart, however, that is because, again, there is a lot going on with this stock.
We will start to see the /ES, /YM, /NQ possibly take a pull back, especially due to the whole middle east situation. Investors will jump to outside options. Odds are, they will go back to GOLD, GME, AMD, AMC, etc. You catch my drift. However, this may be a much quicker move than illustrated in my chart (for the upside). If a spike were to occur, it may top out at 42-44, or at least pullback here before trending in the continued direction.
Yes there is a lot going on in this chart, however, that is because, again, there is a lot going on with this stock.
We will start to see the /ES, /YM, /NQ possibly take a pull back, especially due to the whole middle east situation. Investors will jump to outside options. Odds are, they will go back to GOLD, GME, AMD, AMC, etc. You catch my drift. However, this may be a much quicker move than illustrated in my chart (for the upside). If a spike were to occur, it may top out at 42-44, or at least pullback here before trending in the continued direction.
Comment:
I said 1-3 days we will see a move, however, upon further analysis, I have changed this timeframe to 3-6 days.
Comment:
I see a similar correlation of pattern of GME @ 5/11 - 5/19. Today's AMC movement was GME 5/19. We will see a close resemblance of what followed (if all cards are played).
Comment:
If a spike were to occur in the next 3-6 days, it could be about a 30-50% move, followed by several other moves that could lead to a 70-95% price increase over then next 20 days.
Otherwise, I stick with illustration on chart above.
Otherwise, I stick with illustration on chart above.