On AMC: 4-hour Chart Analysis
After observing the bear channel, a measured move of 4.03 has been identified.
Key observations:
Support coincides with EMA 50 at 4.03.
Fibonacci retracement indicates support at 0.786 (4.03), a FIB historically favored by AMC.
A notable bounce occurred at 4.00 during after-hours trading.
Bullish: Holding at 4.03:
If AMC maintains above 4.03 and subsequently breaks and confirms the 20 EMA at 4.35, a bounce towards the Golden Pocket zone (4.63 to 4.80) is likely from the recent downtrend.
Retracing to the 0.786 level at 5.04 and reclaiming the channel could establish a more favorable outlook.
Potential Downside:
Failure to close above 4.86 could signal rejection from the bottom of the bear channel, potentially leading to further downside.
In the event of failure to hold around current levels, a rapid decline to 3.75 to 3.50 is conceivable.
Other Considerations on the 1 hour Chart:
Oversold RSI suggests a possible reversal.
MACD showing early signs of upward movement.
Bullish divergence noted in MFI
If we do get some type of Squeeze scenario, my target is around that $18 dollar level to exit my calls.
Key observations:
Support coincides with EMA 50 at 4.03.
Fibonacci retracement indicates support at 0.786 (4.03), a FIB historically favored by AMC.
A notable bounce occurred at 4.00 during after-hours trading.
Bullish: Holding at 4.03:
If AMC maintains above 4.03 and subsequently breaks and confirms the 20 EMA at 4.35, a bounce towards the Golden Pocket zone (4.63 to 4.80) is likely from the recent downtrend.
Retracing to the 0.786 level at 5.04 and reclaiming the channel could establish a more favorable outlook.
Potential Downside:
Failure to close above 4.86 could signal rejection from the bottom of the bear channel, potentially leading to further downside.
In the event of failure to hold around current levels, a rapid decline to 3.75 to 3.50 is conceivable.
Other Considerations on the 1 hour Chart:
Oversold RSI suggests a possible reversal.
MACD showing early signs of upward movement.
Bullish divergence noted in MFI
If we do get some type of Squeeze scenario, my target is around that $18 dollar level to exit my calls.
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