Rectangle Earnings Today AMC

RH appears to be trading in a wide rectangle . This pattern is neutral until a trendline is broken and a confirmed trend is underway in the direction. RH has pierced the upper trendline but a throwback occurred,

Negative volume is high.

Price is sitting on the bottom trendline which is support unless broken. Support and resistance levels were made to be broken, but they are nice to have around (o: The longer a support or resistance level holds, the stronger it can become.

RH seems to stay in the Bollinger bands with a standard deviation of 2 and a SMA of 20. Price fell below the lower band, which can show heavy selling pressure. Price eventually returns to the bands, and the candle body is already back inside. The candle tail/shadow is still below the band, and actually touched the support line of the rectangle , as if it were testing the water there (o:

No recommendation.

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