Critical moment for the technical analysts following AMC. The 1 hour EMA 50 line is currently at ~52.95 and price bouncing between 50.00 and 53.00 for the past five hours. Price is currently confirming a downtrend below the 1 hour EMA 50, which might be important for those traders who use this as a key level of dynamic support or resistance.
Comment:
The pullback is coming to fruition. I won't touch AMC until it either crosses above the 1 hour EMA 50 w/ volume, or it bounces off the 1 hour SMA 200 for a dip buy between 30.00 - 35.00.