AMC READY TO MAKE MASSIVE MOVES UP AND DOWN - REFORECAST
From my previously charted forecast for AMC (see related ideas) I picked up on another distribution cycle playing out and realized that the secondary test (ST) phase can correspond with the Upthrust of the green distribution trading range.
If you're not familiar with accumulation and distribution, I strongly encourage researching Wyckoff's work to gain a better understanding of these cycles and terms. From what I'm seeing, we should NOT make a new ATH on AMC, but get priced wedge right in the middle of $65 and right below ATH.
IF however, we make a new ATH, I will have to go back to the drawing board on this theory and reconfigure the situation. For now, I'm pretty happy with the models and how they're interacting with each other. I believe that this move up to the high $65 range will be very quick and very unsustained. It will "shock" the retail traders into pushing themselves into long positions expecting a parabolic move higher and have the carpets immediately removed right underneath them by plunging prices.
This strong move up will be had likely by in between the start of September into mid-October. We will obviously build up to that. Just remember that the LONG TERM situation for AMC is still extremely bearish heading back towards the sub $10> range, you should try to align yourselves with this potential move and have a plan to QUICKLY sell off and try to short AMC stock afterwards.
If we make a new ATH, close short position to recalibrate.
If you're not familiar with accumulation and distribution, I strongly encourage researching Wyckoff's work to gain a better understanding of these cycles and terms. From what I'm seeing, we should NOT make a new ATH on AMC, but get priced wedge right in the middle of $65 and right below ATH.
IF however, we make a new ATH, I will have to go back to the drawing board on this theory and reconfigure the situation. For now, I'm pretty happy with the models and how they're interacting with each other. I believe that this move up to the high $65 range will be very quick and very unsustained. It will "shock" the retail traders into pushing themselves into long positions expecting a parabolic move higher and have the carpets immediately removed right underneath them by plunging prices.
This strong move up will be had likely by in between the start of September into mid-October. We will obviously build up to that. Just remember that the LONG TERM situation for AMC is still extremely bearish heading back towards the sub $10> range, you should try to align yourselves with this potential move and have a plan to QUICKLY sell off and try to short AMC stock afterwards.
If we make a new ATH, close short position to recalibrate.
Commento:
Don't go based of the dates, because predicting dates can be extremely challenging. This is NOT at all to say that this strong move up to secondary test CANNOT be made in a shorter timeframe. It could easily be next week just as much.
