After observing the bear channel, a measured move of 4.03 has been identified.
Key observations:
Support coincides with EMA 50 at 4.03.
Fibonacci retracement indicates support at 0.786 (4.03), a FIB historically favored by AMC.
A notable bounce occurred at 4.00 during after-hours trading.
Bullish: Holding at 4.03:
If AMC maintains above 4.03 and subsequently breaks and confirms the 20 EMA at 4.35, a bounce towards the Golden Pocket zone (4.63 to 4.80) is likely from the recent downtrend.
Retracing to the 0.786 level at 5.04 and reclaiming the channel could establish a more favorable outlook.
Potential Downside:
Failure to close above 4.86 could signal rejection from the bottom of the bear channel, potentially leading to further downside.
In the event of failure to hold around current levels, a rapid decline to 3.75 to 3.50 is conceivable.
Other Considerations on the 1 hour Chart:
Oversold RSI suggests a possible reversal.
MACD showing early signs of upward movement.
Bullish divergence noted in MFI
If we do get some type of Squeeze scenario, my target is around that $18 dollar level to exit my calls.
Key observations:
Support coincides with EMA 50 at 4.03.
Fibonacci retracement indicates support at 0.786 (4.03), a FIB historically favored by AMC.
A notable bounce occurred at 4.00 during after-hours trading.
Bullish: Holding at 4.03:
If AMC maintains above 4.03 and subsequently breaks and confirms the 20 EMA at 4.35, a bounce towards the Golden Pocket zone (4.63 to 4.80) is likely from the recent downtrend.
Retracing to the 0.786 level at 5.04 and reclaiming the channel could establish a more favorable outlook.
Potential Downside:
Failure to close above 4.86 could signal rejection from the bottom of the bear channel, potentially leading to further downside.
In the event of failure to hold around current levels, a rapid decline to 3.75 to 3.50 is conceivable.
Other Considerations on the 1 hour Chart:
Oversold RSI suggests a possible reversal.
MACD showing early signs of upward movement.
Bullish divergence noted in MFI
If we do get some type of Squeeze scenario, my target is around that $18 dollar level to exit my calls.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.