AMC can price rise from the all-time low ? LONG
On this 15 minute chart I see support for upside on AMC now at its all time lows. My target is
recent tweezer tops at 4.27 with a stop loss set at 3.93. Any price rise at all will likely start
short seller's buying to cover and close to be added to new long buyers supporting a move
higher. The dual TF RSI indicator shows a bottom at the all time low and bullish divergence
compared with the price action which is sideways for the moment. The Mass Index indicator
with a rise then fall over the threshold and trigger levels has signaled a reversal. I will take
a long trade of both long shares and a call option. An alternative to hedge is long shares and
put options at a ratio of 100:1 with the puts as cheap " insurance". If a short squeeze
( ? moonshot) ensues, the put option will stop out or get crushed to a complete loss of no
consequence in the greater overall trade.
DISCLAIMER Any long trade from an all-time bottom is extremely risky- only trade cash that you can afford to burn and not feel bad about it.
recent tweezer tops at 4.27 with a stop loss set at 3.93. Any price rise at all will likely start
short seller's buying to cover and close to be added to new long buyers supporting a move
higher. The dual TF RSI indicator shows a bottom at the all time low and bullish divergence
compared with the price action which is sideways for the moment. The Mass Index indicator
with a rise then fall over the threshold and trigger levels has signaled a reversal. I will take
a long trade of both long shares and a call option. An alternative to hedge is long shares and
put options at a ratio of 100:1 with the puts as cheap " insurance". If a short squeeze
( ? moonshot) ensues, the put option will stop out or get crushed to a complete loss of no
consequence in the greater overall trade.
DISCLAIMER Any long trade from an all-time bottom is extremely risky- only trade cash that you can afford to burn and not feel bad about it.
Trade active:
Comment:
Relevant Video www.youtube.com/watch?v=vj5Oq1Lg...
Comment:
Another relevant video www.youtube.com/watch?v=WwJJ7g1c...
Comment:
AMC dropped today but so did the general market. Holding to see action on an up market day.
Trade closed: stop reached:
AMC may never find a bottom.
Trade active:
AMC bounced after descent to a lower support. The long trade is re-entered
Trade active:
AMC pumping into a high tight flag. Profit-taking may cause a little dip this afternoon just in time to get a call option for next Friday expiration