I've left this chart marked up the same as it was on the last posting of AMC, which was quite a while ago. The market rallied a little higher but met strong resistance in the area forecast as the place to look out for bears. It looks like we might be entering into the break now. If we are, we might see the Elliot down legs develop.
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If anything this turned out to be optimistic. I think after all splits this is down even more than the pop forecast.
All I am doing is sharing my interpretation of well known market patterns. I might get these wrong, they might not work and sometimes they are useful. These are probabilities based strategies.
If you can not deal with the idea that people use probabilities based patterns dating back over many yrs in all assets including the ones you value and you need to "Shh" them and "Move them along", this may be a flaw in your own thesis. If you're right - a pushing of the short narrative would help your case ultimately.
And if you're wrong, someone should probably explain the classic warning signs in real time for the purpose of record keeping.
mainaliayush007
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LMAO. In your dreams pal. Bagholders and apes not giving up easily!
holeyprofit
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@mainaliayush007, I am just posting charting patterns. I'm not the creator of the patterns nor am I saying these are my preferred outcomes. Just sharing a perspective. Take or leave it as you see fit.
I assure you, I do not dream about AMC TA patterns.
ArtfulDodger1974
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Long time, no see. Good ole AMC, the Georgetown of stocks. It's really amazing, or sad, that people still hodl this THREE YEARS LATER and viciously attack anyone who refuses to drink the Kool Aid. They should all jump in a time machine back to 2021 since they like to pretend so much. Gamestop, same thing. Whales will always capitalize on this mentality to run the stock up 15-20%, make a nice profit and dump it.
"500k is the floor"? Hell it wasn't even $5.
DonGiovanni8
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@ArtfulDodger1974 your commenting here 3YEARS LATER SO EITHER YOUR OBSESSED OR JUST A LOW LIFE
ArtfulDodger1974
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@DonGiovanni8 GREAT GRAMMAR AND "YOUR" HERE HOLDING BAGS THREE YEARS LATER.
Stay on Reddit and drink your Kool Aid. 😅🥛
relevantBeer11707
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This was an excellent prediction, but what does Eliot wave say now about AMC ..
holeyprofit
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@relevantBeer11707, It may still be in a downtrend putting in a C point here. But as a general rule when things drop over 90% from the high I have no thoughts on them from there. I like to buy things 90% off the high (Because they often double or triple) and I hate shorting things over 90% of the high.
When something is over 95% off the high it really doesn't fit into my model of how I think about trading. I learned most of my skills in the Forex market and the notion of a major currency going to zero isn't really a thing.
I tried selling puts on AMC when it was down over 90%. The stock split saved me (I sold the $1 strikes and it split to make the stock 10) but it was horrible. The thing was falling 25% or so a day. I got out my short puts at a profit and have not looked at it much since.