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  • AMC is NOT trending down

     robodrill updated 1 year, 2 months ago 1 Member · 1 Post
  • robodrill

    July 6, 2021 at 1:09 pm

    I have been looking at AMC and wondering if this is a downtrend. I do not really care, however, since I will be buying more at lower prices. The more it goes down the more I will buy.

    But I did want to share my kidergarten-level technical analysis.

    The one hour chart, The 4hr chart, the daily chart or the weekly chart, all show the same thing.

    An uptrend is a series of higher highs and higher lows. A downtrend is a series of lower highs and lower lows.

    While AMC, in the past couple of weeks has had lower highs, it has NOT had lower lows.

    This is a flat chart, trading sideways.

    Another little nugget: The next time someone tells you you are not following the fundamentals, ask them if the number of shares that exist in a company is a fundamental. I submit that there is nothing more fundamental than the number of shares that can possibly be sold. That is what the price is based on. That is the fundamental the apes are watching.

    Anyone not doing that is doing 2d research in a 3d world.

    Bonus: (Watch Aquateen Hungerforce “the mooninites” to see who we are up against in the battle for the moon.

    • This discussion was modified 1 year, 2 months ago by  robodrill.
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