3 possible breakout chances. Otherwise further down.....
On the chart you can visualize better the 2 Fibonacci retracement levels from where we can see a potential bounce up and the strong support in the 16usd range. All retracement have also the price targets on that arrows heading up after reaching the various support levels.
This is by no means a negative outlook on AMC, but a more realistic one. There are two options for the path of the stock displayed above.
AMC - At crucial level, forming bull pennant, respecting 13ema, watch out for breakout to either directions for calls or puts, i am personally on calls, lets squeeze
If price level manages to consolidate on 23 June based on hourly chart, it is possible that AMC breakout to a new upward trend. Otherwise, probably sideways consolidation along the purple triangle which is drawn based on day chart before attempting for another breakout.
It's time for a make or break session again. On the bright side, it's very likely that by 25 June $AMC will be at least $66. ;)
Chart is self explanatory, looking for support near this 161% retracement level, near $58 range. A solid green candle close above this level would indicate a new trading zone with squeeze momentum being the catalyst. New zone would bring the range between 58-90. Also a bull flag setup on the daily since the breakout towards $70. Expect this to retest ATH's.
AMC Trade setup for 14/6/2021 This trade setup is in the H1 price chart to try and eliminate the noise in the opening of trades. AMC managed to hold both support at 40.92 and 43.70 in Thursday and Friday's session, identical with previous trading activities around the 4th and 5th of June, as indicated on the price chart above. It is a strong indication that...
I am long AMC. Looking like it wants to touch $20 today. I will attempt to play in between $18 and $20 and try not to get rekt. #AMC #AMCSTRONG #AMCtothemoon #AMCSqueeze #AMC500k #NOTAPENNY! #