dumbmoneygorillionaire

Amc chart analysis trending up soon?(A prediction)

Long
NYSE:AMC   AMC Entertainment
So i see a false breakout then a clear breakout and retest of the trend line on the daily chart of amc. It bounced on retest green Friday and printed a what i like to call a flip flop candle pair today. The flip flop is when the proceeding candle is either very very similar just different color or is its polar opposite but opened and close in the same range roughly as the candle previously. You’ll see what i mean in the picture. There used as trend continuation or trend reversal indicators. I am sure there’s a more accepted term for this setup. Besides that the daily rsi is showing a hidden bullish divergence. This is when the lows of the rsi are moving higher but the price action in the lows of the candles is moving down. This is a pretty decent indicator of a potential trend reversal. This divergence started to show itself last week so i would expect solid movement up but (potential down). If we do break upwards i would then be looking for volume to come in and match the movement of the stock price. If it doesn’t, i would expect another cycle and down trend after current uptrend and new analysis needed. With all the nft and crypto hype coming in and box office numbers returning the amount of preorder tickets for the movies coming out in December is crazy high with a crazy high amount of releases coming out in December i am very bullish on amc just from a technical view. AMC

I am still learning so input would be nice. ur thoughts an opinions of my analysis are welcome. Sometimes you dont know you suck until someone tells you.
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