Is AMC nothing but hype or do you believe the market will rally up regardless of COVID. You see how I said rally and no recover right? AMC has pretty much never been this high even prior of COVID showing up. Sorry if you disagree, but only time will tell. AMC is at a crucial market structure point (resistance) and I am expecting a big drop coming. I expect AMC to go back prior to the huge upside movement ($20-$17). I am a technical trader and regardless of what news comes out I see AMC dropping big time. Hope this analysis helps some of you and those that disagree, well for your sake, I hope I am wrong and you make good returns, HAPPY TRADING EVERYONE !!!
Trade active:
Hope my analysis helped some of yah, but my impulse theory usually is very accurate and helps me to make wise decisions like NOT buying this stock after it had skyrocketed because of all the hype of people going back to the theaters after lockdowns have been lifted. You don't have to agree, but the reality is, AMC Thank you for the great returns while others bought, I was selling $$$$. RIP AMC.
Trade closed: target reached:
1 month later and AMC is pretty much where it belongs. It was all just a hype. Congratulations to those who made money on the initial move up and to those who sold it just like I did. Don't get caught up on all the hype, just look at what happened to some cryptos. Happy Trading everyone.