AMC's Price Predictions for Next Week
Check the community sentiment of AMC based off previous weeks price action here in this link.
AMC has outperformed the S&P over the past couple weeks. I must give my fellow apes a congratulations. Their diamond hands actually helped out AMC's stock price the past two weeks. Way to go! Anyway, in the chart below you can see the wedge forming on the very short term candles. AMC makes big swings up and down sometimes so the 4 hour candles are okay to follow and still make enough gains trading the short term trend. Right now the short term trend is near a support level that AMC has not dipped below in two weeks. If you just follow the trend and you are bullish then this is where you would enter or do some DCA. Personally I am going to watch this thing like a hawk next week and as soon as it gets above that trending resistance highlighted by the pink line then my alert will go off and I will wait for the volume and momentum to pick up and I will make my trade then. If AMC's price breaks below that trending support level highlighted by the purple line then things will look more bearish. But AMC has held up better than most of the market so next week will be interesting wether the overall market does good or bad.
Above you can see a technical set up that im often looking for. But below you can see how I sometimes use RSI and MACD.
Above I have highlighted some trending resistance levels that correspond with the resistance of the RSI 50 value. Below the 50 value on daily candles regularly corresponds with a downtrend. When RSI crosses above the 50 value sometimes you can get some buyers to jump in. When MACD crosses above its histogram there will surely be many buyers jumping in. And when it crosses above that trending resistance line i marked in pink on the first chart then that will attract buyer also. If these can all happen in tandem then it should be a bullish move in price action in the short term at least. I am watching for all of these as well as volume and momentum in price action before I go long.
One thing to watch for is a break down below support. That will be a bearish look for me in the short term.
So how do you see AMC playing out this coming week? Are we breaking below the current support from the first chart? Or will we stay above support and outperform the S&P for another week?
One thing to watch for is a break down below support. That will be a bearish look for me in the short term.
So how do you see AMC playing out this coming week? Are we breaking below the current support from the first chart? Or will we stay above support and outperform the S&P for another week?
One important note is that AMC has invested in millions of shares of HYMC and added them to their newly formed company investment fund. So if gold starts skyrocketing and that tiny penny stock mining company skyrockets with gold then we more than likely will see a jump in AMC's price. So you bored apes may want to keep an eye on HYMC if you are die hard AMC apes. I think its genius. Now AMC can manipulate other stocks just like its own equity shares have been muddled with through their investment fund.
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