I am short AMC for the short term, even though unpopular.

Hi All,

I have been short AMC. I am starting to think it is an advantage apes can't read charts. Considering the optimism of the tribe, I will still watch my short like a hawk.

We see that

• RSI continues to have LL each day
  
• MACD continues to gather more downward momentum, lines not curving at all
  
• MACD gains seller strength
  
• A hammer candle nearly formed by some parabolic move at close last Friday, but was cancelled out by yesterday candle. We remain in downtrend.
  
• Uptrend out of BBand must return to band (top bband curving)
  
• Slippery slope without many MAs to catch the knife so to speak
  

I have some different support lines drawn out. Clearly we have heavy support to break ~ 47.77. Breaking that I would like to say we have some clear targets and a bouncy downside before hitting the 50 day MA where I would expect buyers to enter again and there be a bounce. If not, bye bye AMC!

On the other hand, if we break resistance at 20 day MA (54.9) I TP and close.

Cheers x

Kommentar:

I TP at 43, bounced right off support. Might look into getting back in if can't break resistance ;-)

Kommentar:

I have opened another short position at 46 since retest failed