AMPG Leg 1 = Leg 2 Complex correction (Log Scale)
Leg 1 = Leg 2 Bearish Measured Move nested inside Bullish Spike & Channel Macro Structure.
Expecting the Path of Least resistance to be downwards unless we continue to see strong Spring type action. Retracements under a declining 5Day MA must be treated guilty until proven innocent, if looking to open a swing trade. A Higher High above the 5DMA would provide confirmation. There is always the possibility of a re-test of 2017-Oct2020 Accumulation Range Creek & Origin of Breakout @ $1.5.
Currently trapped shareholders that remain steadfast and have bid their time for appropriate places to average down, a Higher Low Major Trend Reversal or Higher Low Double Bottom Major Trend Reversal at the base of the channel would be ideal. Otherwise appropriately Double Pressured Range breakouts could provide more conservative entries than catching a falling knife.
April2021-Jan2022 Redistribution Range Breakdown Measured Move Targets;
Expecting the Path of Least resistance to be downwards unless we continue to see strong Spring type action. Retracements under a declining 5Day MA must be treated guilty until proven innocent, if looking to open a swing trade. A Higher High above the 5DMA would provide confirmation. There is always the possibility of a re-test of 2017-Oct2020 Accumulation Range Creek & Origin of Breakout @ $1.5.
Currently trapped shareholders that remain steadfast and have bid their time for appropriate places to average down, a Higher Low Major Trend Reversal or Higher Low Double Bottom Major Trend Reversal at the base of the channel would be ideal. Otherwise appropriately Double Pressured Range breakouts could provide more conservative entries than catching a falling knife.
April2021-Jan2022 Redistribution Range Breakdown Measured Move Targets;
- 1:1 Target @ $2.15
- 1:1.618 Target @ $1.5