AMKR kicked off its exponential move in mid Feb, had a one month consolidation in Apr-May and after broke out from 7.50 with 3x the volume, it has sky rocketed all the way to 12 plus.
Until a textbook "Evening Star" issued a stern warning at the top. Technically, a tick below the red bar was enough to trigger "Short signal. However, it gapped down from the open, with institutional selling with volume the massive selling just piled on.
At 50% retracement level, which also coincide with Gann's Major decision point, bearish engulfing pattern appeared and followed by a big red bar last night. My short has been triggered last night!
If the downtrend channel were to be valid, by around Oct which is the norm selling month, price of AMKR would most probably hit around 6.9 - 7.5 (previous consolidation clusters) which is my intended profit level.
AMKR on of the constituent of NASDAQ Composite Index response almost identically to it.
Until a textbook "Evening Star" issued a stern warning at the top. Technically, a tick below the red bar was enough to trigger "Short signal. However, it gapped down from the open, with institutional selling with volume the massive selling just piled on.
At 50% retracement level, which also coincide with Gann's Major decision point, bearish engulfing pattern appeared and followed by a big red bar last night. My short has been triggered last night!
If the downtrend channel were to be valid, by around Oct which is the norm selling month, price of AMKR would most probably hit around 6.9 - 7.5 (previous consolidation clusters) which is my intended profit level.
AMKR on of the constituent of NASDAQ Composite Index response almost identically to it.
