Overview:
AMC is currently exhibiting a classic descending broadening wedge formation, a bullish reversal pattern that suggests potential upward movement. This setup is characterized by two diverging trendlines, with the price making lower lows and lower highs within the pattern.
Long-Term Target:
Based on the wedge formation, our long-term target is a move back to the top of the descending broadening wedge, around the ~$300 level. This target aligns with historical price action and significant resistance areas.
Short-Term Targets:
Before reaching the long-term target,
AMC is expected to hit several key resistance levels. Our short-term targets are in the $10-$15 range, where the price is likely to encounter the major resistance trendline.
Trade Strategy:
Entry Point: Look for entry opportunities near the lower boundary of the wedge, ideally around current support levels.
Short-Term Profit Taking: Consider taking partial profits as
AMC approaches the $10-$15 resistance zone.
Stop Loss: Set a stop loss below the recent swing low to manage risk.
Technical Indicators:
RSI: Monitoring for oversold conditions that could indicate a potential reversal.
Volume: Increased volume near support levels can confirm buying interest and potential breakout.
Conclusion:
The descending broadening wedge on
AMC suggests a potential bullish reversal, with significant upside targets in both the short and long term. Traders should watch for breakouts above resistance levels and manage risk accordingly.
Long-Term Target:
Based on the wedge formation, our long-term target is a move back to the top of the descending broadening wedge, around the ~$300 level. This target aligns with historical price action and significant resistance areas.
Short-Term Targets:
Before reaching the long-term target,
Trade Strategy:
Entry Point: Look for entry opportunities near the lower boundary of the wedge, ideally around current support levels.
Short-Term Profit Taking: Consider taking partial profits as
Stop Loss: Set a stop loss below the recent swing low to manage risk.
Technical Indicators:
RSI: Monitoring for oversold conditions that could indicate a potential reversal.
Volume: Increased volume near support levels can confirm buying interest and potential breakout.
Conclusion:
The descending broadening wedge on
Youtube: youtube.com/channel/UCO85FMvCQzxq5QBEOpERkRg
Linktree: linktr.ee/swingtradepros
Website: swingtradepros.com
Discord: discord.gg/swingtradepros
Linktree: linktr.ee/swingtradepros
Website: swingtradepros.com
Discord: discord.gg/swingtradepros
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Youtube: youtube.com/channel/UCO85FMvCQzxq5QBEOpERkRg
Linktree: linktr.ee/swingtradepros
Website: swingtradepros.com
Discord: discord.gg/swingtradepros
Linktree: linktr.ee/swingtradepros
Website: swingtradepros.com
Discord: discord.gg/swingtradepros
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.