AMC - NOT IN A GOOD SPOT - RECOVERY POSSIBLE THOUGH
All,
I have seen so many Symettrical triangle posts on AMC I had to post. We lost that .. its gone (on lower timeframes). Could be recovered in Pre Market / news of trading being suspended over weekend on short sellers. Please do not follow or buy on those symettrical posts because we have lost them.
Breakdown
#1: we WERE in a sym triangle and no longer the case clearly trend both horizontally and the uptrend support have been broken and in all honestly clinging to life down here.
#2 Yellow support - (major loss off support)
#3 White Support / Blue highlighter- were previous dual support (lost both)
#4 Red Highliter - Clearly the downtrend is obvious massive sell offs/Resistance
#5 Green area obvious demand area (I think we head here without a rally Monday)
I have seen so many Symettrical triangle posts on AMC I had to post. We lost that .. its gone (on lower timeframes). Could be recovered in Pre Market / news of trading being suspended over weekend on short sellers. Please do not follow or buy on those symettrical posts because we have lost them.
Breakdown
#1: we WERE in a sym triangle and no longer the case clearly trend both horizontally and the uptrend support have been broken and in all honestly clinging to life down here.
#2 Yellow support - (major loss off support)
#3 White Support / Blue highlighter- were previous dual support (lost both)
#4 Red Highliter - Clearly the downtrend is obvious massive sell offs/Resistance
#5 Green area obvious demand area (I think we head here without a rally Monday)
Comment:
SOMETHING IMPORTANT TO CONSIDER -- PEOPLE TRYING TO DRAW PERFECT LINE USING WICKS IS WRONG. WICKS ARE NOT DEAD ACCURATE (EVER) ESPECIALLY ON VOLAITLE STOCKS THEY CAN BE VERY MISLEADING.
Comment:
Well we know those lines were right look at that gap back over
Comment:
As you can see my trends were mainly tested as new support when regained etc. So I think we are "back on track" to 70-75
Comment:
