On the monthly timeframe the trendlines are clearly foretelling a potential upward move. But if those break, there is nothing stopping price from falling down to 0.389 support.
AMC looking like it is putting in a near-term bottom here.
*CM * "Bottom Indicator" has been flashing for the last 3 trading days. Given the bullish pennant, strong trendline, oversold Stoch/RSI status, chart harmonics and other indicators it is looking more and more like AMC will hold and turn back up from these levels soon.
Not financial advice.
I initially thought it'd retrace at the 0.74915 level but it continued to dip. New support at 0.74745 level. Expect a bounce off this level and a straight shot upwards possibly back to the 0.77411 level.
