Hi all,
The market is driven by FOMO, a lot of retail money is being injected to several hyped stocks, AMC is one of them.
AMC is totally going against the market sentiment (S&P) and will be back to where it was.
There are few technical reasonings why AMC is good short or option play for today-tomorrow..
1. Price is going up while volume is decreasing, which means buyers soon to be exhausted
2. Possible bearish harmonic pattern is seen, good short opp at 61 fib level.
Target : $11
Aggressive target: $8
The market is driven by FOMO, a lot of retail money is being injected to several hyped stocks, AMC is one of them.
AMC is totally going against the market sentiment (S&P) and will be back to where it was.
There are few technical reasonings why AMC is good short or option play for today-tomorrow..
1. Price is going up while volume is decreasing, which means buyers soon to be exhausted
2. Possible bearish harmonic pattern is seen, good short opp at 61 fib level.
Target : $11
Aggressive target: $8
Trade active
Trade closed: target reached
Comment:
01/28 AH, AMC is a good buy. GL guys.
