NYSE:AMC, Stock, AMC Entertainment, New York Stock Exchange TOCK CONTINUING ITS RUN TODAY? // AMC Stock Update (Technical Analysis)

Oh that’s dirty. This is looking. Nice i’m really excited for this price action. This is gon na, be oh yeah, oh yeah, all right, let’s just do it. What is up, everybody welcome to trey’s trades, where we give technical analysis on different stocks in the stock market, as well as potential buy, hold or sell opinions on these given stocks. I look at profits by saying that i’m, not a financial advisor nor expert, so take what i say with a grain of salt. The reason that i saw this channel is because a couple years back, i was about 30 000 deep in some medical debt, and i was very fortunate to have some close family friends and mentors that pushed me to work hard and invest my money and i’m happy To say that not only am i not financially free but i’m doing pretty well for myself at the age of 23. So if i can pass along any of the information, resources or tools are given to me here to the community, make a couple people better off than they were before that’s all that i can ask for. Lastly, if you’re not dropped a like on the video, it really does help support the channel and consider subscribing if you’d like to see more content like this. Now, today, we’re gon na be giving you an update. As of this morning on ticker symbol, amc, amc, entertainment holdings incorporated and i’ve got a couple reasons to believe that this is going to be a pretty nice stock here in the future.

So we’re going to look at this, both macroscopically and microscopically i’ll show you the one month chart as well as the two day. One minute chart uh. I will look at the overall volume here, some of the price action, both bullish and bearish patterns and indicators. Here i’ve got three different indicators pulled up, which are the rsi, the relative strength index, anything over 70’s overbought. Anything under 30 is oversold, the 200 ema, which is the exponential moving average, and this is a price action based valuation trend line over a 200 day moving period and then the 15 day vomit. This is the volume adjusted moving average. Some brokerage accounts won’t offer you this. You may need to use the v wap or the m8, but this is just a price action based valuation trend line over a 15 day moving period, adjusted accordingly to the overall volume going into a stock. These indicators are great for showing you trends and patterns over previous price action. We can’t predict the future because of them right, but we can analyze patterns and trends and see if they repeat themselves in the future. So it is a great tool to use so we’ll. Look at all these establish some levels of support and resistance. I’M gon na drop a fibonacci retracement as well. To give us an idea of what we’re looking at in terms of retracing on the stock and uh. Tell you some different ways that you can play this off.

So we’ve got a lot to talk about here today. Let’S just get right into the video, but first i want to give a quick shout out to the guys over at the patreon. We are almost 600 members, strong, which is absolutely insane. Thank you guys so much it really. It blows my mind. I honestly think about this i’m. Like man, i don’t know how this happened. It all snowballed so fast, but they’ll have access to the private discord as well as real time. Insight to my personal training and we’ve got a lot of great stuff in here chatting questions investing assistance, options, trading stock bot, which i’m actually going to be using, showing you guys today. Anybody can use this in the discord by the way short term plays mid term plays long term plays, spac plays cold stocks, whole bunch of different industries and uh, including bitcoin. So if you’re interested in that uh, there is a link to the patreon down in the description box below and we’ve got some people that make a lot of money here. A lot of smart people, eight percent. In one day we had 58 in the last week. Oh man, some filthy, filthy numbers 57. The past month, like i said, check it out if you’re interested in joining now, if you’re not familiar with what amc is we’ll just read you off a quick description. They engage in the theatrical exhibition business through its subsidiaries. They’Re.

The largest movie theater company in the united states, it operates for united states markets in international market segments. The united states segment involves in the activity in the u.s, specifically new york, los angeles, chicago atlanta and washington. D.C. The international markets segment focuses its operations in the united kingdom, germany, spain, italy, ireland, portugal, sweden, finland, estonia, latvia, lithuania, norway and denmark say that 10 times tongue, twister it’s way too early in the morning. For me to be this amp i had a mountain dew. What do you do that sounded like the dumbest thing ever, whatever the company was found on june 6 2007 and is headquartered in leewood, ks and uh? The reason we saw a nice little pump here is they secured 917 million dollars in lifeline to avoid avert bankruptcy? The shares went up about 26 percent. Consequently – and this is kind of a meh – i mean it’s a it’s, a news, article and it’s – a good thing right, they’re, avoiding they’re, avoiding debt, but i think the true potential with amc is going to come once they start generating revenue again. So this is like, like starting the engine on the lawnmower uh like revving it up and it’s, not quite starting yet you’re like it’s, just spitting and you’re. Getting some good spitting happening right now with amc. But what excites me about amc is some of the potential in the short term and i plan on probably swing trading.

This i’ll hold this for a couple days, but if we look at uh pop what this does is, it tells us the 10 most popular ticker symbols right now on all discords being talked about right. Amc is number four. At this given moment uh, they were number four earlier today. Number one being bb, which i do have a video out on etsy gme and then amc and noke is, is uh next up there on the list, so amc is currently being very heavily talked about now. Another thing i want to show you is how many shares are being shorted on amc 36.58 of the total shares being traded right now are short shares and i’m not going to rag on you if you’re shorting the stock, if you believe in, if you, if you Think that this stock is going to go down and you make money, that’s awesome that’s good, but if you are longing the stock, what can end up happening is a short squeeze, and what do i mean by that? Well, let me show you an example: if we come over to gme, this is the perfect example of a short squeeze uh. We had a nice push on and this whole story is it’s funny as as funny as it gets. Honestly, i can’t believe i think a reddit thread came together. It was just like screw the big man and they just railed this thing, but um gme went absolutely nuts because it was short squeezed right.

We saw this huge gap from like 50 63 bucks all the way up to in the pre market. You know 136 dollars uh and then the regular market hours up to 156 dollars, so uh 160 dollars. Actually i think that’s 167, but now i think the same thing is similarly possible with amc that high, probably not. I don’t quite think that high but um the thing about shorting a stock is there’s infinite potential for loss. You can lose as much money as you want to lose uh and you can only make as much money as the stock is, will able to drop right. So let’s say that a short sells this stock right and they plan on buying back let’s say they sell it at five dollars. They plan on buying back at 420.. Well let’s say that you sell it at five dollars right, but it keeps going. It goes to six dollars, six, fifty seven dollars, seven, fifty, how do shorts know uh if the stock is going to stop growing there’s, no way to know so more often than not what you’ll see happen uh, and this is no rag on anybody out there shorting A stock i i’ve never done it personally, because i don’t like that idea of infinite losses, but um. If you get caught in that situation, they have to do what’s called covering and that’s buying back their shares at a higher price, and typically when this happens, you see a nice push or a squeeze on the price action, and this will typically push a stock.

Like amc uh, you can see this honestly double up very easily. It happened with with game stop granted. This is a different situation. We don’t live in a vacuum we can’t compare. You know this to be the exact same thing, but we went from 67 up to 167 right, so you can see the power behind a squeeze on a stock. So i do think it’s very possible to see this if it is squeezed right, we’re going to depend on that, because there is a lot of short volume, it’s going to be a tug of war, you’re, going to see a lot of a lot of volatility as We saw here right a lot of up and down movement, a lot of up and down um, so it’s going to be a little bit of a tug of war, you’re going to have to have a strong stomach if you want to sit through amc. But i do currently have a position to be completely transparent. I got it at a dollar cost average of 476 and it is currently trading at 5.10. So i’m, up a little bit about 1560 shares uh just a little over seven thousand dollars an initial value. So that’s, how that looks right now and i plan on riding this as long as i see, momentum continue to grow right and the reason i didn’t freak out yesterday when this stock was correcting, is because it did not correct harshly right.

I got it at 476.. My entry time could have been better right, but i i had some work and stuff to do. I wasn’t able to watch the charts, but i got it at 476 and if you exclude these candle wicks, where we just have brief moments where the stock touched down at like three dollars and eighty cents right. This held up really really well in the retracement line. At 38.2 percent and including the fact that there’s 36 percent short volume, interest, 36 percent of short float right. This stock is holding up extremely well. Buyers are stepping in and they’re holding the price up over this 436 range, so i think there’s a lot of buying pressure uh and if we look at these candles here, some of them are a little bit ugly, but we do have some nice ones right. So this indicates weak selling or weak buying pressure, which is why you see shorts come in or sellers and take profits, push the price around a little bit. But what i like to see is once shorts did, step into this stock for buyers. Anyways um you’ve got a long, long, bottoming tail here on this candle and this candle, and that indicates that sellers tried to push the price down. Buyers stepped back in and said that’s a buying opportunity. They scooped it up and pushed the price back up to these. Previous highs right, so a lot of buying pressure uh.

At the end of the day, we have some nice buying pressure it’s a little. It was a tug of war. You can see it here right. The candles tell a lot of the story, and this is a battle back and forth between shorts and longs and uh. You know this this. This area right here says a lot about what could have potentially happened. So we’ve got this kind of compressing: a price action. We’Ve got almost three different doji candles and a doji candle if you’re not familiar, is an indecision in the market, it’s an opportunity where the candle could go either way right. So we’ve got this big wide range, green bar and right. When we see this huge, topping tail that’s an indicator that hey this could go a couple different ways, but after that we’ve got this compressing this funneling down a price action, almost one doji candle. This is an indecision candle, because the wicks on the top and the bottom are the exact same here. We’Ve got a little bit of buying pressure, uh long wick on the bottom and then two doji candles, and at this point it could have gone either way. Probably slightly favored bullish territory, but we did see it pushed by sellers at market open. So um i like to see that personally i like to see that there was selling pressure and buyers step back in and push both either shorts or profit takers to keep the stock price up.

Look at all this red volume guys and the stock is still up right now in the pre market. I have a lot of faith in amc. I’Ve got a lot of conviction. I have over seven thousand dollars in amc, uh and worst case scenario, guys if you don’t want to ride this for a couple day. Swing there’s a lot of opportunity here for swing trading right, so let’s take a look here at uh. The price action. If we draw up some levels of support and resistance, you can see that we’ve got two different touch points here at four dollars and nine cents. Now am i saying we’re gon na come back all the way down to four dollars and nine cents, probably not um, but what is possible is a touch point back down here to if it lets me move this really quick to about 4.79. If, if we see a lot of selling pressure now, we might not see that happen, but you know 4.79 is a level to watch and if not, we can see that we’ve got one two three four five different candle wicks touching here at about four dollars and Ninety five cents, four dollars and ninety cents, so what you could do is since this is such a volatile stock. If we zoom out and look at this macroscopically, you can see okay, four dollars and ninety cents, but you know we know that we touched that a lot, so we can anticipate that that’s going to be a critical point here in the future.

You can get it at 490 cents for 4.90, write it up to 520 off a bounce, take your profits short the stock on the way down, take profits to 4.90, rinse and repeat, rinse and repeat, rinse and repeat over and over and over. Until you see a push over 520. i’m, not personally going to be doing that, i think i’m going to dabble a little bit in some other stocks and just let this ride as i do think that is going to continue to grow there’s a lot of interest. This is the fourth most talked about stock right now, in discords, so there’s a lot of hype, a lot of popularity um, i think it’s going to do good things and that’s. My personal opinion, of course, do your own due diligence but that’s. How that looks right now: we’ve got a nice gap here between the 15 bomb and the 200 ema has been growing, especially the last two days. Volume is increasing every single day, rsi indicator. The the correction has not been that bad. Like i mentioned earlier, we went from 90 down to 60, which is that’s pretty nice you’re, not giving back a whole lot of the profits here. Uh. Historically speaking, you know this is a little bit of an asterisk because we don’t have the same amount of volume. If we saw the same amount of volume over this last month, this would be more indicative, but this is a pretty flat amount of price action.

The correction was a little a little more harsh right, but once we have this volume stepping in right, um that tells a different story to me, and this story says: okay, we correct it to 54. We corrected to 43 worst i’ve. Seen is 34, maybe down to 36 36 again, so you know we’re not really dropping down on that 30 or really ripping away profits range here guys. So i feel pretty good about where amc is sitting right now. I feel very comfortable letting my shares ride. I definitely wish i could have got a better price – a dollar cost average on this, but regardless, i think, there’s opportunity to be made with money here and, if you’re looking for an entry point, i think 4.90 is the spot to be in uh. If you catch it, slipping underneath that 470, it also looks pretty safe, um and just be watching for that on the day. So that is what i have for you guys today for the video. If you enjoyed it, please drop a like if it does help support the channel and consider subscribing if you like, to see more content like this and lastly, i do have an affiliate link in the description box down below for weeble. If you like to get four free stocks with a 100 deposit, i will also receive some free stocks it’s a great way to support the channel if you’re not interested, that’s totally fine.

I don’t really care that much. I just appreciate you guys watching my videos and supporting me in that way, so that is what i have for you guys today. Thank you for watching.

What do you think?

Written by freotech


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