It's almost a perfect reversal pattern on the short timeframes.
This would have been a perfect reversal candlestick pattern if today's candle could have reached higher than the previous red candle.
Regardless of the reversal pattern, AMC broke out to the upside of a very short-term price channel. We might see more upside.
The near-term resistance levels are mapped out below. If the price can climb above the 4.50 price point, then there might be some substance to the reversal pattern.
These resistance levels look very close, but there are some nice gains to be made if you are swing trading this ticker.
AMC is probably one of my least favorite stocks at the moment. ![]()
But as for a quick swing trade, things look a bit promising so far.
As a quick side note, I don't think we will see any substantial upside in this ticker until the interest rate situation is figured out. If the Fed cuts rates, then that would be even better. AMC needs to bring in more revenue, or they need to fix their debt situation before I believe any real upward movement will take place.
That is just me, though. I hope y'all get your MOASS like you are all saying.
As always, I am not a financial professional, and this is not investment advice. Be careful and be patient. Dont anticipate the market. Rather, participate in the market. Don't invest money that you can't afford to lose. Give some of your investments time and know when to cut your losses.
Don't be greedy. Don't invest in anything you don't understand. Don't put all of your eggs in one basket. Don't listen to the hype. Don't fomo or panic into or out of trades. Do your own due diligence. And just follow the trends. A trend is your friend. Good luck trading.
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SpyderCallOP : Ya know, there are plenty of stocks MOASSing right now if you don't want to wait on AMC.
NVDA MOASSed all year last year and so far this year as well.
AMD is right behind NVDA.
A lot of SEMI stocks are MOASSing to certain degrees.
MSFT has a little MOASS going on over the past few months.
Cybersecurity stocks like CRWD, ZS, PANW, etc. All of these have had a little MOASS in them lately.
Cryptos just had their MOASS moment. I think another MOASS will be coming this year after cryptos are done selling.
There is always a MOASS in the market somewhere. You just gotta find it. Don't get stuck on one single ticker.
FANCY PANTS : Ironically the low price of the day this was post (1/18) and today (1/25) are nearly identical.