I described a similar setup in Gamestop before it went on a nice rally. Looks like AMC is showing the same pattern.
And hey, if I'm wrong and it goes to zero, at least the CEO is giving us all a free large popcorn :)
*not financial advice
Bollinger bands are showing volatility has died right off. The last two times this happened were followed by a big pulse up.
Price is still hovering just below 50-day EMA but a break above this level could be enough to set off a nice breakout, but be careful of the fake-out like in May.
Aside from the fact that management has totally ghosted and provided zero updates while share price has tanked... the technical setup is looking ripe for a bounce - and hopefully an actual trend reversal.
- volume increasing
- bullish falling wedge
- bullish divergence in the RSI
- encountering major support (previously resistance)
- spot gold is forming a...
Bullish falling wedge on the 4h
Bouncing off long-term support
50 day and 200 day EMA lines colliding - should be some resistance there
Will gold assert it's position as the safehold it's traditionally been?
I'm not a big fan of using hidden bullish divergence as a buy signal because it can result in false positives much of the time, however, I have found that many huge gainers have had hidden bullish divergence, and GME has a well-defined one. Essentially, it allows a lot of headroom for price to grow before the RSI hits overbought again....
Also, the price closed...
Main support held with large volume today, suggesting it is headed upwards. Resistance in RSI has been taken out and KST indicator has crossed bullish.
I'll add more if it can break out of the large wedge pattern, which would signal a strong move to the upside.
This is an environmentally-friendly and disruptive solution for the global gold industry and the...
The December monthly candle closed above the resistance line for the first time in many years, with the most volume ever in one month.
MACD is about to cross bullish.
Currently holding immediately below 26-month EMA resistance.