DarthTrador

$AMC - Is this the bottom?

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NYSE:AMC   AMC Entertainment
Truth is I don’t know. But on the (D) timeframe we first see a Bearish Engulfing Candle which is usually a bad sign. However we also see a Dragonfly Doji which is a bullish reversal signal. The long tail of the Doji shows us that there is strong buying pressure @ the $29.38 area. This Doji also created a double bottom and suggests that we are bullish for at least the short term with the MACD curling up. If this pans out we may see $AMC test the $37 area next week. LMK what you think!

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