- bulls are failing to keep and hold key resistances. - Previous bearish gaps couldn't be overtaken and we see bearish engulfing pattern after bearish engulfing pattern appearing.
AMC shows the exact same structure.
On the 15min we opened 2 demo trades on our live stream and today at 2.20pm we will review them.
Nothing more to be said about this stock but we can have 2 scenarios depending on the phase we are in:
- Return to normal phase: after a very long time of bearish pressure we could see a run up towards 90-100dollars zones or more. - Fear phase: we keep continuing with the bearish trend and then go over in to the capitulation phase.
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