I am expecting a bullish move to structure, only temporary in my opinion. Theory is after huge impulse moves the market comes back at least to the 50% mark followed by another move up and then finally dropping to the start of the impulse move. Look for signs of reversal upon entry of the neutral zone, expect an sharp move down once it begins dropping. Any questions, feel free to ask, I am here to help. Happy Trading !
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As expected, AMC continues to drop in will drop for the next couple of weeks maybe even months. The huge move up was just an impulsive move and has trapped now all those who actually bought it when it reached $60 or more. Do you homework, look at previous data prior to when even COVID came to light, AMC has never been at $70 prior to its most recent move up. Hope this helps. Happy Trading !
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AMC is slightly away from target as expected before AMC takes a breather and starts consolidating or try for a small push up. For those who have sell orders, it is completely up to you whether you take your profits or want to wait for another drop (it will drop) just got to wait for it. Hope this helps, enjoy your profits & Happy Trading !!!!
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I posted this a while back and it did hit the targeted area. Those that are still in this trade, I hope you brought your parachutes because this is about to drop big time. Happy Trading !!!