AMC on the 60 minute chart shows an early reversal out of a three week downtrend after
two months of a wide ranging price action that was sideways. The more or less takes
bankruptcy considerations off the table. In the meanwhile, the streaming services continue
to beat down movie theaters. No matter, AMC has new bullish momentum and the trading
volumes to...
When you see price action respecting one of the trendlines. Its most likely going to follow that trend line.. Its on an hour long chart so just keep checking it until it produces something that lines up with what you found on your own DD.
by iCantw84it
07.20.2021
Haven't posted in a while, mostly holding and adding, instead of trading. HOWEVER, this is a good bounce off on the logarithmic chart of AMC. I could see this going to $80 fairly soon if it breaks the descending resistance. Still, ABC seems completed, nice bounce from the 1.272 area. If we don't break below but instead go above the black line and retest it, easy x2.
Ironically they are opposing each other. So Its the same advice I always give. wait for price action to decide which path it will follow when you see it respecting one of the trendlines. Its most likely going to follow that trend line. right now they both share the space that is coming out of the keycode. Its on an hour long chart so just keep checking it until...
