I know you apes will never short AMC. it is against your religion. but will you cover your long position?
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in the chart directly below you can see the longer term time frame of amc. a huge descending wedge pattern that has formed on AMC's long-term time frame. I will absolutely be watching for the breakout of this very long-term wedge pattern. some investors say the longer the price is coiling up in a wedge pattern then the bigger the breakout or breakdown will be when it happens.
in the chart below you can see the 4-Hour candles for amc. note that the price is currently following a slightly upward trending price channel that I've highlighted in the dark purple trend lines. also note that the price is currently near resistance of this price channel.
on The daily candles below you can see the story behind these doji candles. doji candles show uncertainty with buyers and sellers both competing with equal strength leaving the price generally flat. this is conducive of longs being covered or short positions building. as that is what it has happened on friday. basically investors are preparing themselves for this resistance level as there could possibly be rejection in the short term.
I know you apes will never short amc. but will you cover your long positions? this may be a good time to do that possibly. on the other hand if we do get a breakout above This short-term resistance in this price channel then that very well may confirm a breakout above the very long term descending wedge pattern that I mentioned in the very first chart. and that would be very bullish. and I should say that if we do break out in this very short-term price channel that I've shown you on the 4-Hour candles then we could also reject the resistance of that very long term descending wedge pattern.
$SPDR S&P 500 ETF(SPY.US$ $Tesla(TSLA.US$ $Netflix(NFLX.US$ $GameStop(GME.US$ $Mullen Automotive(MULN.US$ $Redbox Entertainment(RDBX.US$ $Roblox(RBLX.US$ $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $ProShares UltraPro QQQ ETF(TQQQ.US$ $Invesco QQQ Trust(QQQ.US$ $VIX Index Futures(MAY4)(VXmain.US$
$SPDR S&P 500 ETF(SPY.US$ $Tesla(TSLA.US$ $Netflix(NFLX.US$ $GameStop(GME.US$ $Mullen Automotive(MULN.US$ $Redbox Entertainment(RDBX.US$ $Roblox(RBLX.US$ $ProShares UltraPro Short QQQ ETF(SQQQ.US$ $ProShares UltraPro QQQ ETF(TQQQ.US$ $Invesco QQQ Trust(QQQ.US$ $VIX Index Futures(MAY4)(VXmain.US$
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Rudimentary : we'll see from the moon. This isn't a technical trade
SpyderCallOP Rudimentary: no trade yet. I'm still waiting to see how the price Acts unopened Monday and next week just see if I should short this resistance or go along on the breakout
Dons hobby SpyderCallOP: Let me know what you end up doing Spyder
Thanks
Revelation 6 : I can’t believe you would even suggest shorting this stock. That’s blasphemy isn’t it? Be careful my friend as the towns people will come for you with torches and pitch forks. Lol
SpyderCallOP Revelation 6: lol! I literally get some hate from an ape or two when I post anything that doesn't say "to the moon," on AMC. they will literally send me and talk smack as if I am some sort of outsider or barbarian in their territory. quite intimidating.
Jacob Kitchen Revelation 6: He never suggested shorting it
Jacob Kitchen Revelation 6: This is why I think amc “apes" are terrible investors.
SpyderCallOP Revelation 6: actually saw some meme on AMC yesterday that perfectly describes your statement in your last comment
Dons hobby Revelation 6: Lol
Dons hobby SpyderCallOP: One of the reasons I have any AMC is because Spyder is in it. And the second reason is because of all the people that talk smack about it. It's going against the grain and Spyder is a big proponent of that as well.
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