AMC Trying to Break Down Trend

2021년 2월 5일

AMC recently broke out and pushed to the upside of the downtrend., however buyers are still not showing a lot of strength, but this is usually normal during trend shifts. Relatively low volume and volatility, leading to a flatish price usually signals a trend change.

$5.30 has excellent support and I'd imagine shorts will be looking to exit their trade (buy back their shorted shares) if AMC happens to come close to this level. You can see sellers have pushed the price close to 5.30 but buyers have front ran it every time, showing that there is clear demand at this level.

Ideal entry would be 5.30, but the price may not go that low again for a while. I think a position at 6 or above, with a stop below 5, would be a good entry with a good risk reward.

2021년 2월 9일

노트

AMC hitting 5.30 support today. Also closing the gap from the initial pump.

2021년 2월 9일

노트

Just wanted to add quick that it's bad trading to assume it will bounce at support. The correct way to trade support is to wait for the price to bounce and give you a pivot to put a stop loss beneath.