• Since our last analysis on AMC, I warned about a top sign at $6.80 (link to my last analysis below this post);
• Now, AMC hit our target with an astonishing precision, and we see some reaction. Could this be a bottom sign? Maybe.
• It all depends on how it’ll react today, and earnings won’t make things easier. If it loses our support at the red line, AMC might retest the $3 area again;
• However, it is trying to do a bullish candlestick today, indicating a possible bounce to our previous resistance at $6.80, and AMC would easily get there if earnings are good (or if the market perceive as good);
• Either way, AMC looks good as it has plenty of upside/downside, regardless of what happens next. Let's just pay attention to the key support/resistance levels seen on the chart above;
• I’ll keep you guys updated on this.
Remember to follow me to keep in touch with my analyses!
• Now, AMC hit our target with an astonishing precision, and we see some reaction. Could this be a bottom sign? Maybe.
• It all depends on how it’ll react today, and earnings won’t make things easier. If it loses our support at the red line, AMC might retest the $3 area again;
• However, it is trying to do a bullish candlestick today, indicating a possible bounce to our previous resistance at $6.80, and AMC would easily get there if earnings are good (or if the market perceive as good);
• Either way, AMC looks good as it has plenty of upside/downside, regardless of what happens next. Let's just pay attention to the key support/resistance levels seen on the chart above;
• I’ll keep you guys updated on this.
Remember to follow me to keep in touch with my analyses!
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