AMC has been respecting the volume shelf support and 150EMA on the daily. I like the idea of swinging calls here for a move to the upside in near future to retest the descending triangle resistance line - $43 zone price target
For the longer term, watch for a break of the resistance line followed by confirmation to go long.
A move below the 150EMA (blue line) I'd be looking for a good short opportunity. Can also short the triangle resistance line anticipating rejection.
Chart looks like hedgies have just been having fun trading this one. Good price action for swing trading!
For the longer term, watch for a break of the resistance line followed by confirmation to go long.
A move below the 150EMA (blue line) I'd be looking for a good short opportunity. Can also short the triangle resistance line anticipating rejection.
Chart looks like hedgies have just been having fun trading this one. Good price action for swing trading!
Comment:
This paid, I'm out of the trade no need to lose it all for possible ER dump