AMC trade ideas
AMC Long opportunityCAPITALCOM:AMC showing signs of bottoming out at the 4hr chart and at the end of an Elliot wave to the downside, potential long opportunity for a run up from 4.2 to about 7.2 (Fib swing levels) during the next few weeks approaching the APE>AMC conversion vote.
Need to be careful though, as AMC is prime target of shorts.
AMC - Ready To Tumble But Could Turn Bull SoonAMC has completed a 3 wave correction here and pushing down against the 4H 200MA and ascending trendline.
Its been a while since AMC went bananas and every ape in town came rushing in.
But it may be ape time again soon, obviously not until its done a x5 or so...
Chart personalities tend to continue and AMC is a ripper.
Looking to buy the low and hopefully with some precision.
Not shorting.
Not advice.
AMC - Sell LimitAMC Entertainment Holdings, Inc. is an American movie theater chain founded in Kansas City, Missouri and now headquartered in Leawood, Kansas. It is the largest movie theater chain in the world. Founded in 1920, AMC has the largest share of the U.S. theater market ahead of Regal and Cinemark Theatres.
Strong price rejection around those volume. Weak low. When testing those volume, those shorts may add to their positions
Happy 618!!!I haven't posted any TA on AMC in a while, It has been peaceful. Can you believe it, tomorrow Feb 10th 23' will be 618 days since ATH's. These low volume days really hurt but the fact that there is nothing backing such a move, just a result of derivatives and degens pissing away premiums.
These are a the current support and resistance i'm tracking. Nothing much just wanted to archive the day.
Hang in there!
AMC AnalysisPrice playing out nicely as analyzed last week. Price mitigated the bearish POI at 9.15 and reacted sharply to the downside. Right now, price is mitigating the bullish POI at 5.62. As there are no signs of changing of character on the lower timeframe, I'm expecting price to continue lower following the order flow, at least into the bullish POI at 4.39.
$AMC - Trading Against a Long Term Demand AreaBefore the good news, remember at all times that the price is still trading below and neatly following the 10 EMA.
The good news for the bulls out there is that the price is now kissing a long term key demand level.
The famous AMC rally back in 2021, erupted from close to its current levels.
This tends to be a good reason to start looking for bullish opportunities. A breakout and close above the 10 EMA would be an interesting trigger.
Remember at all times that trading is not predicting the future. It is more about detecting asymmetries in the markets and managing risk.
Especially the latter, I advocate. Manage risk at all times, at all costs, with the utmost diligence.
Cheers,
Tenacious Tribe
90% correction may mark a low, at least for a while.Back in 2021 I proposed bubbles of the style of AMC tend to correct about 90%. This move is in with AMC.
We also tend to just spike out the low of the last big rally. This is a panic point for bulls.
Oftentimes we then range for a while and we set up vicious bull traps (And in some cases extreme lows. I do not think that's the case here, tbh, but it should be noted moves like this happened in things like AMZN and AAPL way back when they were fairly new).
Things that have dumped 90% can easily rise 200 - 300%. Even if they're in a net downtrend.