Amc topping signs on multible timeframes
First let's look at the Daily (left side):
- We hit a RSI of around 96 the second time and are highly oversold. The first time it market a temporary Top!
- Normally a stock moves in Waves. We detached from the MAs and are likely to return to the 50 ema earlier or later.
- Volume Analyses also shows signs of excessive bullish volume we normally see on overshooting tops.
Let's look at a shorter time frame now (4h - right side):
- We see a weakening RSI.
- The Trend has not broken down so far and the 9 ema is still holding. I suggest to at least set a stop or Trailing stop below here.
- The VolumeAnalyses is showing sell signs (red triangle down)
Conclusion:
In case of a pullback the first "Volume support" is around 15. Which is marking the top of the prior re-accumulation phase.
A backtest of the "last point of support" is normally needed to confirm the bias and regain strength for the next move.
The bullish scenario would be a pullback on low volume, that is holding the support zones.
- We hit a RSI of around 96 the second time and are highly oversold. The first time it market a temporary Top!
- Normally a stock moves in Waves. We detached from the MAs and are likely to return to the 50 ema earlier or later.
- Volume Analyses also shows signs of excessive bullish volume we normally see on overshooting tops.
Let's look at a shorter time frame now (4h - right side):
- We see a weakening RSI.
- The Trend has not broken down so far and the 9 ema is still holding. I suggest to at least set a stop or Trailing stop below here.
- The VolumeAnalyses is showing sell signs (red triangle down)
Conclusion:
In case of a pullback the first "Volume support" is around 15. Which is marking the top of the prior re-accumulation phase.
A backtest of the "last point of support" is normally needed to confirm the bias and regain strength for the next move.
The bullish scenario would be a pullback on low volume, that is holding the support zones.
הערה
The RSI is of course highly overbought, not oversold!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.