AMC Chart Analysis
Shares are trading in what technical traders would call a flag pattern. Although this is considered bearish, the stock could break out of the pattern in either direction.
The stock is trading below both the 50-day moving average (green), and the 200-day moving average, indicating the sentiment in the stock has been bearish.
Each of these moving averages may hold as an area of resistance in the future.
Key AMC Levels To Watch
The stock is trading in the flag pattern, but outside of the flag pattern the stock trades within a sideways channel on the larger scale.
The flag pattern may break out in either direction and likely will see a stronger push in the same direction as the break.
If the stock breaks pattern resistance, it may see a push higher up toward the $60 resistance in the channel. A break of pattern support could let the stock drop to near the potential $20 support level in the channel.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Spider Ape : @BearBearChen
Moneymonkeysays : wow how eloquently you say absolutely nothing
UxFxOOP Moneymonkeysays: perhaps I should have just said HODL! MOON!
MindOverMatter UxFxOOP: You could have said moon and hold.. .But it would be a lot cooler if you talked about all the failure to delivers.
Moneymonkeysays : no offense offered ;)
UxFxOOP : all good, you mean talk about this atrocity here
how the SEC let them get away with a slap on the wrist
Moneymonkeysays : I've been thinking it's looks like a bull pennant that broke to the top early. However we all know the price is fake so its only frustrating to me to even look at it right now.
Moneymonkeysays : The volume is ridiculous lol. But I think soon we're gonna see another spike possibly a gamma or the squeeze itself. the winds seem pointed in that direction.
UxFxOOP Moneymonkeysays: I hope so, I bought in around 10 and averaged up along the way. Didnt sell at 70, still holding out hope, gonna see it through, squeeze or bust.
70729856 : This is so manipulated that technicals mean nothing anymore here! I've only invested an amount I don't care about losing, so I'm just holding and seeing what happens!! It's one hell of a show either way
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