AMC showing weakness

2021년 6월 16일

Chart posted 6-16-21 approx 9:40am CT
Im back- took a vacation to Vegas. Getting back to business. Just noticing some price action on AMC. AMC has shown some classic bearish price action creating already 2 bearish sharks. The fortunate part is the first pattern played out well on buyer volatility and really did not reveal the bearish action. Now, it appears we have a longer more defined pattern forming and price action is appearing to get weaker. If price goes below 53.00 I think we will begin to see buyer confidence weaken. If we go over 63 then buyer confidence will have re-established for short term.
I do not think price goes over 58 at most. We shall see, but I think this is the beginning of sell off. Coul dbe slow vs violent- but note the downward channel as a guide. It reminds me of the TESLA chart I made back in March (attached below) which has played out nicely on bearish action. Compare the 2 charts and see what it means for you. CHEERS!

2021년 6월 17일

노트

AMC struggling in the channels listed, but if price goes over 54- Get in quickly for a possible fast trade. Price may trade up near 72-73 before exhausting. But has to get over 64 to do so.

2021년 6월 22일

노트

I did it again- good EARLY call of AMC to the downside.

2021년 6월 29일

노트

AMC just hanging out here- still hasnt gone over 64.00.. and as long as it hovers below- it will keep getting weaker and weaker and this coul dbe a spooky drop in the end. Be cautious.

2021년 7월 2일

노트

Looks like the downswing has begun.

2021년 7월 14일

노트

Downside Target 32.88

2021년 7월 15일

노트

Target reached opening bell 7-15-2021 32.88