AMC Wed Update: Retrace
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So yesterday we saw a close breakout on the Technical Analysis. Unfortunately did not play to plan.
What I do believe though is that we could see a bounce off of the 41.98 resistance line OR the Neckline to the M pattern seen on Monday (Blue Dotted line). With the direction going lower, let's remember that we are more than likely re tracing to a previous resistance forming a new higher low and to continue. Not entirely DOWN trending to new lower numbers.
I believe we haven't changed directions and are still retracing. But, based off the T.A., does anyone else think we are near the bottom of the retracement, or Consolidating in a range (If we were to I'd say consolidation in the range of 48.12 and 41.98)
Retracements are very important and if seen and understood properly, They can be a great buy signal at the bottom of the retrace as-well. Wheres the bottom? MACD
My Thoughts are a bottom near the 41.98 and a green week next week.
Happy Trading everyone and remember... don't sell w/ Hedge funds!! The shares you sell ARE the shares they use to short. The less shares they have the better it is for us!
Side Note: I don't want to hype anyone up, but I truly think we could see the squeeze starting this new beautiful month of September.
What I do believe though is that we could see a bounce off of the 41.98 resistance line OR the Neckline to the M pattern seen on Monday (Blue Dotted line). With the direction going lower, let's remember that we are more than likely re tracing to a previous resistance forming a new higher low and to continue. Not entirely DOWN trending to new lower numbers.
I believe we haven't changed directions and are still retracing. But, based off the T.A., does anyone else think we are near the bottom of the retracement, or Consolidating in a range (If we were to I'd say consolidation in the range of 48.12 and 41.98)
Retracements are very important and if seen and understood properly, They can be a great buy signal at the bottom of the retrace as-well. Wheres the bottom? MACD
My Thoughts are a bottom near the 41.98 and a green week next week.
Happy Trading everyone and remember... don't sell w/ Hedge funds!! The shares you sell ARE the shares they use to short. The less shares they have the better it is for us!
Side Note: I don't want to hype anyone up, but I truly think we could see the squeeze starting this new beautiful month of September.
Not
Another thought for selling sharesWhen selling shares you put selling pressure on the stock
Thats 1
Then, The hedge funds use your shares too short the stock.
Thats 2
2x the selling pressure on AMC EXCLUDING the put options that imply and impose selling pressure as-well.
Could almost be 3x the selling pressure w/ the sell.
But! Don't take it from me. I just like the stock.
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