I tried to help you guys get some back with a swing trade.
Solid Swing Trade Opportunity
Two weekends ago, I spoke of a possible swing trade opportunity. I mentioned how AMC was breaking out of its downtrend on the very small time frames.
I mapped out the resistance levels to take profit. AMC's pice action almost perfectly followed the principals of support and resistance of the price levels that I mentioned. The potential gains were ~5% - 6% on each swing trade if you would have bought in at the perfect time. Check out the previous post in the link directly below.
Buy at Support and Sell at Resistance
Here is an illustration showing how the price action traveled between support and resistance for the majority of the first two trading days of the week.
On Monday at the 2 a.m. premarket open, the price of AMC opened above the first resistance level, which made it a new support at that time. At this point in time, since AMC is breaking out in the very near-term tmeframe, the idea would be to buy at near-term support and sell at near-term resistance.
Preserve Your Capital, Don't Bag Hold
Buying at support and selling at resiatance played out perfectly the first two trading days of the week. But without a stoploss, these gains would have been erased towards the end of the week.
It can be very risky trading a ticker that is experiencing a long-term downtrend. So, to minimize the risk, I always say to take profit on the way up and use a stoploss.
As always, I am not a financial professional, and this is not investment advice. Be careful and be patient. Dont anticipate the market. Rather, participate in the market. Don't invest money that you can't afford to lose. Give some of your investments time and know when to cut your losses.
Don't be greedy. Don't invest in anything you don't understand. Don't put all of your eggs in one basket. Don't listen to the hype. Don't fomo or panic into or out of trades. Do your own due diligence. And just follow the trends. A trend is your friend. Good luck trading.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
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SpyderCall OP NewtonOj : I was trying to help you guys, ya know. Why so mad? You holding a bag or something? Be careful. This thing is like a zombie company until they figure out their balance sheet situation.
FANCY PANTS SpyderCall OP : Newton has been around a long time with AMC (and has a very short temper). Definitely carrying a heavy average.
SpyderCall OP FANCY PANTS : He came out of nowhere. He is hella pissed about something![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
NewtonOj : How about don’t go claw in a hole and worry about your owe shit
SpyderCall OP NewtonOj : Right on Newton
Good talk buddy.
NewtonOj : Yep that is probably every ones opinion bro
worry about your shit and we will all get along Utube too just like you.
SpyderCall OP NewtonOj : Alright my guy. Keep up the good fight.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Make that money 
HizMegaladon : Explain please? I’m new !