If you by chance seen my last post, I'm liking the Fib levels that have and are continuing to get touched.
For kickers, I'm just Ape with a past obsession for charting Forex pairs.
Wild how with everything going on behind the scenes, AMC is looking promising.
Let breakdown why..
Analysis on a 4hr candle chart with a range of roughly 45 days.
You can peek at the Fib levels taken from 0.0% at the high of ~$25, back to the low of ~$2.10. This was added after marking Support and Resistance "zones"
What'd ya know, some fun numbers line up with current and past price action like Fibonacci's good Ol "Golden Number" .618
After Wednesdays run and rejection of the Golden .618 level, Thursdays major bloodbath from the sell off back to nearly .786 and the almighty kicker.....Fridays all out BATTLE.
This was a straight up Apes vs AI fight. Watching the order flow you see buys of 1/3/5/18/24/56/139/543 etc. all sporadic numbers coming from Apes across the USA. You also saw sells of EXACTLY 100 shares damn near every second!! Totally done by a human *eyeroll*.
Despite ending red for the day we have a few things we can see on the charts.
Overall structure....HUGE inverse head and shoulders (For all you Cup guys, I respectfully disagree.) Price closed in our mid-range zone in an area of past price action that would fall in line with the 2nd shoulder shown at.........A NUMBER THAT WILL BE PLASTERED IN THE MOVIES......$8 FOOKING . 01
Whys that matter? Apparently its got to do with in the money options, something I'll admit i dont know jack shit about. But after a little DD and a certain Youtuber (GorillaGang baby) I got the jist of why this is beneficial. So now we have: a bunch of cleared debt, AMC opening doors again, a massive amount of in the money call options, a close in a good support zone , a huge nice H&S pattern, a support of the .786 Fib level, AMC noted as the most shorted stock, AMC noted as the most held stock AND our big money boiis dropping that massive ~1M buy before market close as well as others joining......what else do I have to fkn say?! This isnt normal and may well never happen again.
I'd like to convince myself all these pieces mentioned are fueling up the rocket to hit the moon on Monday but I dont think HFs will go down that easy. We could very well see a good push back to the .618 level and if we break, a run to the top of our upper purple support zone , then a small decline to retest the broken neckline.
Maybe that happens, or maybe HFs pull shorts out the ass and hammer us down again to weed out the weak, who knows. We could also slowly creep back to $20 as their money dwindles and mirror the large moves seen on Jan 27th-Feb3rd on the way, something I wouldnt mind bc at $20 I'm green but thats not why we're here. Eventually the money dries up and the squiz suizzes
Truthfully I'm no advisor, just an Ape with crayons who likes to draw pretty on stonk charts. There's just tooooooo much going on for a degenerate like me to even consider selling my position. This could either put a measly dent in my pocket, make me some fancy lunch money, or allow me to help my parents retire early. And to that I say, I HOLD because I LIKE THE STOCK.
Much love to anyone who made it this far.
For kickers, I'm just Ape with a past obsession for charting Forex pairs.
Wild how with everything going on behind the scenes, AMC is looking promising.
Let breakdown why..
Analysis on a 4hr candle chart with a range of roughly 45 days.
You can peek at the Fib levels taken from 0.0% at the high of ~$25, back to the low of ~$2.10. This was added after marking Support and Resistance "zones"
What'd ya know, some fun numbers line up with current and past price action like Fibonacci's good Ol "Golden Number" .618
After Wednesdays run and rejection of the Golden .618 level, Thursdays major bloodbath from the sell off back to nearly .786 and the almighty kicker.....Fridays all out BATTLE.
This was a straight up Apes vs AI fight. Watching the order flow you see buys of 1/3/5/18/24/56/139/543 etc. all sporadic numbers coming from Apes across the USA. You also saw sells of EXACTLY 100 shares damn near every second!! Totally done by a human *eyeroll*.
Despite ending red for the day we have a few things we can see on the charts.
Overall structure....HUGE inverse head and shoulders (For all you Cup guys, I respectfully disagree.) Price closed in our mid-range zone in an area of past price action that would fall in line with the 2nd shoulder shown at.........A NUMBER THAT WILL BE PLASTERED IN THE MOVIES......$8 FOOKING . 01
Whys that matter? Apparently its got to do with in the money options, something I'll admit i dont know jack shit about. But after a little DD and a certain Youtuber (GorillaGang baby) I got the jist of why this is beneficial. So now we have: a bunch of cleared debt, AMC opening doors again, a massive amount of in the money call options, a close in a good support zone , a huge nice H&S pattern, a support of the .786 Fib level, AMC noted as the most shorted stock, AMC noted as the most held stock AND our big money boiis dropping that massive ~1M buy before market close as well as others joining......what else do I have to fkn say?! This isnt normal and may well never happen again.
I'd like to convince myself all these pieces mentioned are fueling up the rocket to hit the moon on Monday but I dont think HFs will go down that easy. We could very well see a good push back to the .618 level and if we break, a run to the top of our upper purple support zone , then a small decline to retest the broken neckline.
Maybe that happens, or maybe HFs pull shorts out the ass and hammer us down again to weed out the weak, who knows. We could also slowly creep back to $20 as their money dwindles and mirror the large moves seen on Jan 27th-Feb3rd on the way, something I wouldnt mind bc at $20 I'm green but thats not why we're here. Eventually the money dries up and the squiz suizzes
Truthfully I'm no advisor, just an Ape with crayons who likes to draw pretty on stonk charts. There's just tooooooo much going on for a degenerate like me to even consider selling my position. This could either put a measly dent in my pocket, make me some fancy lunch money, or allow me to help my parents retire early. And to that I say, I HOLD because I LIKE THE STOCK.
Much love to anyone who made it this far.