V Bottom

Earnings 12-20 AMC

Tough time to trade this so close to earnings.
Analysts appear positive on the numbers although estimates to beat are higher than last quarter.

V bottom that got caught up in a rising wedge along with a RSI Divergence.

The wedge and the divergence appear to have corrected.
Short interest is around 3.5%.

EL is 48.20 which is the high on the left side of the V.

Possible stop under 41.84.

No recommendation

Kommentera:

A Piercing line candle pattern is a 2 day pattern consisting of a red candle, then followed by a green candle. The second candle must close above the midpoint of the first candle. (This signifies that buyers overwhelmed sellers on this day.)
The pattern is preceded by a downward trend in price. (This may be only a short downtrend, but if the candles appear after an upward trend in price it is not an important)

Kommentera:

Rising Narrowing wedges are often accompanied by an RSI Divergence

Kommentera:

1-10-23
Appears to have corrected after falling from a Rising Wedge but is still not to long entry level for the V pattern.