Bearish scenario
With how the current market is, i see this as potentially a route we take.
Next week is see being a relief bounce.... rejection at the resistance trend line, and possibly a fake out break out... and then a strait shot down.
Knowing i personally cant play the down side to amc due to the overly bullish stance i have, i will not be placing puts on this.. but i will be waiting...
IF this would play out, i see it taking a few months to recover and build back the momentum.
but i also see us being at the bottom, by mid Feb.
not a fan of bearish post. But its just what the chart says to be.... will know in less then 2 weeks.
Good luck.
Next week is see being a relief bounce.... rejection at the resistance trend line, and possibly a fake out break out... and then a strait shot down.
Knowing i personally cant play the down side to amc due to the overly bullish stance i have, i will not be placing puts on this.. but i will be waiting...
IF this would play out, i see it taking a few months to recover and build back the momentum.
but i also see us being at the bottom, by mid Feb.
not a fan of bearish post. But its just what the chart says to be.... will know in less then 2 weeks.
Good luck.
Penafian
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