AMC Entertainment
Aggiornato

Symmetrical triangle to descending?

154
Signs to note:
  • Bullish bat forming. Currently on move to leg D. PT $32
  • 200SMA on daily, PT $32
  • TSV below 0 indicating selling/distribution pressure.
  • OBV still inflated, indicating buying pressure.


If we don't hold the current support, the next stronger support would be $32, and would complete the bullish bat formation (and then push up). This would change the formation from a symmetrical triangle to a descending one I would think. Still overall bullish because of OBV, but TSV is pointing signs that the goals of shorts would be at least $32 short-term. Comment if anything seems amiss!
Nota
Bullish Bat completed. Hit SMA200 as predicted.

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