AMC Falling Wedge

13 thg 12, 2021

AMC has just hit it's Speedline support which we saw buyers enter with a small green candle. I added more at this level as daily action today saw big buyers coming in the $23 range. I expect a bounce up as RSI is a record lows. AMC tends to make a significant move upwards at these oversold levels. If you're long I'd wait until at least February 1st that will take us past the Jan 2022 options rollover date and around the same time we may break out of this wedge.