As you can see, a 4 hour close above 19.50 will confirm a complete reversal of the bearish ichi trend that has been rejecting the price to lower lows since the 40s. I am expecting a significant rally once this level gets pierced.
The daily ichimoku is also about to confirm a bullish kijun-tenkan sen cross. The price perfectly bounced off the bottom of the red...
On the hourly we can see a clear diamond bottom reversal pattern. The breakout of the $23 level before market close was very bullish to see and the VIX FIX is flashing bottom signals.
I am looking for a very strong rally once we can break and hold above $26. The next levels will be 32 and 44. A dip to $21 is still not off the table, however.
I am expecting another dip to 17.25 for another higher low with an eventual breakout to the 19.50 area.
Above 17.86 and we will be breaking out of the double top structure that has plagued AMC for the past two weeks.
Looks like SPY bottomed on a red 9 on the TD sequential. We closed the day above 441, which signals a possible shift to upside.
Way too many people calling for doom on SPY, which makes me believe this runs more.
AMC has major resistance at the 19.60 - 20.00 level. Based off the rounded bottom pattern that we have formed, we are now approaching a downtrend resistance line. This downtrend resistance has been sending AMC to lower lows since the $40 level. Once this downtrend resistance line breaks ($20), we can expect a violent move to the upside back to $40.
Looking for a big break of the $20 region with significant volume to confirm a reversal back to the $40 level. Last week, the price bottomed and closed above the 200 weekly moving average, on a weekly scale.
I am expecting a drop to around 15.80, and a gap fill at 16.06 before more upside continuation.
I don't know about you guys, but I will be celebrating today's victory with champagne. Today we managed to close right above the 200 weekly moving average.
If you are new to technical trading, look at the power of the 200 weekly moving average on many charts including BTCUSD, SPY, APPL, etc. They signify bottoms on an uptrend. And as of now, the uptrend is still...
So I have stopped posting consistent technical analysis after we broke down from the symmetrical triangle as I have been trying to re-analyze the new price movements thus far. It seems to me that AMC is now in a confirmed bear market. As of now, AMC is below the 200 day moving average, it broke major supports which we weren't expecting it to do. Again, as of now,...
Looks like AMC has failed to break and hold above the $26 level which I have been mentioning for a couple days now is a strong zone due to it being the resistance of the OB (Orderblock)
If it is to break below 22, then there is a high likelihood that the new stop is going to be the teens (17.10), which if you have been following my YT channel, it has been a...
Looks like AMC might be coming for a short term dead cat bounce after back to back red days. I am expecting us to reach no further than 26 on the next bounce (most likely it will have a strong rejection at 25.30).
I am still looking for the $17 target to get hit soon.
As of now, the MFI looks like it's getting overbought on the 1 hour. We are also going up on lower and lower volume, and it is also printing a 3 black crows pattern. I would not be surprised to see a small dip back to the 30 level, and then a close above 31.50 for tomorrow. A close at 30 or under would be pretty bearish, but it looks like we have carved out a nice...
Have been tracking this bull flag. As of now the daily chart is looking good. A breakout above 42 will confirm this pattern, target continues to be 220.
If this is to fail, then this is most likely going back to $16-18 and will go on a long term accumulation phase before the next push up.
Looks like 33 and 34 has been ultimately confirmed as the bottom, just as I correctly predicted a week ago. Again, all the haters and bears continue to bash on me for getting some wrong calls throughout the choppy range, yet they have been coming out of their caves everytime the price gets to the low 30s and call for shorts. Time and time they have been proven to...
Next week will be huge. Bears could not get us below 34 again after so many tries, and liquidity was again, re-tested. Smart money is continuing to buy up the mid-low 30s and a big push up from this demand zone is inevitable.
Good luck to all bulls and apes. We've made it this far.