$AMC Daily Pennant Conclusion and MACD Convergence
Will we break-out or break-down?
Hoping for the break-out to the 90's. Lux Algo still holding strong on that Buy signal since January 25th @ $3.60 and MACD is converging next week.
Earnings shouldn't be great, but nobody is selling anyway. Bears have exhausted their sell off ladder attack from 2 weeks ago. Double Bottom last week played out fully without a hitch. MACD is converging next week. Maybe a fake-out break-down at earnings to the low $30's again?
With so much support on @ the $30's I think it would take institutions selling heavily to force the stock down and try to recapture some paper hands.
AMC
Hoping for the break-out to the 90's. Lux Algo still holding strong on that Buy signal since January 25th @ $3.60 and MACD is converging next week.
Earnings shouldn't be great, but nobody is selling anyway. Bears have exhausted their sell off ladder attack from 2 weeks ago. Double Bottom last week played out fully without a hitch. MACD is converging next week. Maybe a fake-out break-down at earnings to the low $30's again?
With so much support on @ the $30's I think it would take institutions selling heavily to force the stock down and try to recapture some paper hands.
AMC
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