AMC: A bottom sign! What to expect next?
• AMC is still in a bear trend, and there is no reversal sign yet. However, there is a bottom sign on it today, just above a support level (black line at $6.80);
• Today’s candlestick pattern is a Bullish Harami, so far, and although it is not the most reliable bottom sign, it appeared in an important support level;
• This could make AMC bounce back up to its 21 ema again, but remember, this is not a reversal sign yet, just a temporary bottom sign;
• If AMC breaks its 21 ema or does a bullish reversal structure in the next few days, then we can talk about a reversal, but for now, let’s just ´pay attention to the Harami pattern;
• In addition, if AMC frustrates this bottom sign, it’ll just seek its next support levels, like the red line at $6.34 - $5.96;
• It all depends on how AMC will react from here.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
• Today’s candlestick pattern is a Bullish Harami, so far, and although it is not the most reliable bottom sign, it appeared in an important support level;
• This could make AMC bounce back up to its 21 ema again, but remember, this is not a reversal sign yet, just a temporary bottom sign;
• If AMC breaks its 21 ema or does a bullish reversal structure in the next few days, then we can talk about a reversal, but for now, let’s just ´pay attention to the Harami pattern;
• In addition, if AMC frustrates this bottom sign, it’ll just seek its next support levels, like the red line at $6.34 - $5.96;
• It all depends on how AMC will react from here.
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
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