Hello traders and investors! Let’s talk about AMC again, and see how it performed since our last study. Every week I do a study on AMC, and you may check my last analysis in the link below this post.
The stock hit our target, which we talked about in our last study, and filled the gap at $ 12.91 and now it is trading way above it. This is incredible, and a real sign of strength. We have a crystal-clear bull trend, as we have higher highs/lows, and the 21 ema is pointing up.
But now, it seems AMC might get trapped inside a “Trap Zone”, between the resistance around $ 14.50 and the support level around the 21 ema. At one point, we’ll see a breakout from it, we just don’t know which direction yet.
Let’s see the daily chart for more clues:
The daily chart is looking good, as we have the beginning of what could be a series of higher highs/lows.
If AMC loses the Trap Zone downwards, probably it’ll hit its support level around the 21 ema and the $ 11. But this wouldn’t affect the major bullish bias, as pullbacks are expected.
What’s more, AMC has a Cup & Handle pattern, and it has a clear target at $ 20.36. Let’s see how it’ll behave in the next few days, and next week I’ll do another update! Therefore, remember to follow me to keep in touch with my ideas and insights, and if this idea helped you, remember to support it with your like!
Thank you very much!
The stock hit our target, which we talked about in our last study, and filled the gap at $ 12.91 and now it is trading way above it. This is incredible, and a real sign of strength. We have a crystal-clear bull trend, as we have higher highs/lows, and the 21 ema is pointing up.
But now, it seems AMC might get trapped inside a “Trap Zone”, between the resistance around $ 14.50 and the support level around the 21 ema. At one point, we’ll see a breakout from it, we just don’t know which direction yet.
Let’s see the daily chart for more clues:
The daily chart is looking good, as we have the beginning of what could be a series of higher highs/lows.
If AMC loses the Trap Zone downwards, probably it’ll hit its support level around the 21 ema and the $ 11. But this wouldn’t affect the major bullish bias, as pullbacks are expected.
What’s more, AMC has a Cup & Handle pattern, and it has a clear target at $ 20.36. Let’s see how it’ll behave in the next few days, and next week I’ll do another update! Therefore, remember to follow me to keep in touch with my ideas and insights, and if this idea helped you, remember to support it with your like!
Thank you very much!
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