Bad reaction to earnings?
$AMC Entertainment(AMC.US$
This is a pretty big sell-off after earnings. I'm assuming investors were disappointed and what they heard or saw on the report. But technically speaking the price is still within the uptrending channel. You can see it in the picture below. As long as we stay within this price channel then we are technically still trending up. If we do not bounce off of the support of this price channel then I would worry about my long positions.
This is a pretty big sell-off after earnings. I'm assuming investors were disappointed and what they heard or saw on the report. But technically speaking the price is still within the uptrending channel. You can see it in the picture below. As long as we stay within this price channel then we are technically still trending up. If we do not bounce off of the support of this price channel then I would worry about my long positions.
If the trend continues you will see something like this in the chart directly below.
Also notice how today's selling occurred near this horizontal support and resistance zone. It is usually expected to see some sellers coming in at these resistance levels. It looks like some really bad selling off of the earnings. But other than that I don't see why the stock should break down below this trending price channel that it's in. If the price does drop below the support of the price channel I mentioned then I might take some risk off the table or look for a lower price to dollar cost average in the future.
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SpyderCallOP : @102640653
102640653 SpyderCallOP: Thanks . Will hold n see how it goes
SpyderCallOP 102640653:
Mike Hunt SpyderCallOP: Higher lows. Still in upward channel.
SpyderCallOP Mike Hunt: thats it
agreeable Leopard_91 : nothing has changed too many people panic for no reason cuz they don't have a clue of what the hell is going on here unless it was done in crayons the play is the play n nothing has changed keep holding n buying simple n get yr balls out yr mouth n be a man n hold the line otherwise sell yr 10 shares n go home n let the real players run the play
GOOBERHAG : By "investors" selling off you mean market makers..
Retail is not budging !
SpyderCallOP 102640653: I hope you did not sell. because I am really wishing that I bought that dip right now
102640653 SpyderCallOP: Yes I’m holding it . Do u see it reaching to $26 . They killed the shorts n by the looks of it I think it may even break up from $26going by volume n buying.. fake sell off was. To accumulate from retailers. I hope this would break up. Can u see the chart how it looks like. Thanks
102640653 SpyderCallOP: Appreciate .don’t forget keep an eye on baba. N Tencent
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