With today's volume being 42.83% of its peak on June 2nd and after we’ve broken to the downside of this wedge, this will be the end to the June 2021 pump and dump of AMC. The MACD giving the clearest of day sell sign and CCI about to cross the 0 line we know this stock will be back to where it began, in the $15-$20 range.
I know I’ll get a ton of hate from the bulls, but the facts are the facts. What can I say?
I know I’ll get a ton of hate from the bulls, but the facts are the facts. What can I say?
Comment:
I called the AMC demise 3 trading days too early, it happens. Since my prediction, the volume of shares traded has only fallen further with 114M shares trading today which is less than the number of shares traded back when this pump started between May 13th to May 18th. When prices fall and volume falls as well that indicates there are only sellers and no buyers, if there were high volume and negative price action that might indicate a bottom. If selling continues tomorrow, we know this AMC pump and dump is officially over. Good luck trading.