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
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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
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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.
Very cute. You have been added to my long list of 🤡 Hall of Fame.
Vic_Tech_Trader
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@gencollado, ahhhhh thanks for stopping by though. Not sure if you were trying to be funny or a smart ass, but I see we have different views on AMC which probably has something to do with why your leaving a comment. Best of luck to you and good luck with AMC lol. Happy Trading !
KedgarCharts
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350k watchers at stocktwits...trending..do you really believein this one going.down?
Vic_Tech_Trader
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@KedgarCharts, I don't remember 1 time watchers actually moving the market. Hype is only good for a while, take a look at Gamestop also going down, DOGEUSD also going down. Im sorry, but hype is only temporary. Happy Trading !!!
Lavaocean
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watch and u shall see. ya the SPY isn't overvalued either or how about 90% of the mkt
Vic_Tech_Trader
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@Lavaocean, I don't think SPY is overvalued, however, it is due for a pullback and it seems it's coming after that long red candle on the weekly chart. I don't normally compare any ticker with other companies. I predict each company, stock, or currency as its own. I know there is correlating pairs out there, but there is no 100% correlation between them. Thanks for your feedback though, hope my charts can help you in some way. Happy Trading !
N0onesBULL-809
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How about if it continues a little more then dip some to current level or whatever then goes 🚀and complete a cup and handle,, sorry im just a noob also i dont any position on AMC either
Vic_Tech_Trader
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@N0onesBULL-809, I expect it to go up a bit more, it may even create a higher peak then the previous swing high to fake people out for a new breakout and then create a inverted wedge. Only time will tell.