When AMKR was way oversold two weeks ago, it seems like the red downtrend channel was about to be defied.
Two scenarios can happen if such price action happens.
1. Price will be searching for a new channel (potential light purple channel)
2. Price creeps back to red channel bottom where it broke down.
with earnings to be reported in 4 days, if the released result was lower than expectation, i anticipate that price will gap down to purple channel bottom of around 6.13
On the other hand, if Q3 earning is better than expected, there are two possible prices that AMKR price can gap up.
a) extremely good earning - 9.00
b) slightly higher earning - 8.10
P.S. this is my projection base on past experience (majority) of price movement conforming to channel when earning was released. Bear in mind that past statistic doesn't guarantee that price will move as expected.
Two scenarios can happen if such price action happens.
1. Price will be searching for a new channel (potential light purple channel)
2. Price creeps back to red channel bottom where it broke down.
with earnings to be reported in 4 days, if the released result was lower than expectation, i anticipate that price will gap down to purple channel bottom of around 6.13
On the other hand, if Q3 earning is better than expected, there are two possible prices that AMKR price can gap up.
a) extremely good earning - 9.00
b) slightly higher earning - 8.10
P.S. this is my projection base on past experience (majority) of price movement conforming to channel when earning was released. Bear in mind that past statistic doesn't guarantee that price will move as expected.
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