After Job openings, JOLTS data and macroeconomic data weakening in US; a potential formation of Three Black Crows on Daily graph of Volkswagen could be underway jeopardising the last 6 positive candles. Tomorrow's closing candle will confirm if the Three Black Crows take place and next week we will see whether the prophecy ("sell") takes place.
With uncertainty in the air the market not just AMC and other memestock in general is panic selling. Major general market as well is bearish, such as the SPY for example and including stocks like NFLX had recently suffers a lot downside. However I think this is the perfect catalyst for AMC short squeeze imo. Will 2008 Volkswagen occur again this year? Nobody...
Duh, obvious. Anyway, not gonna explain anything here. IMO minimum ~20% dip incoming.
Not trading advice, just a document for myself for future reference.
Price rejected the 160 resistance line.
We are now in the blue zone, where price action is telling, that the price will probably move to the south.
Target is the 137 area.
Lower Highs in a weekly chart and the widening out of the Bollinger Bands are a signal for a movement downwards.
First target at horizontal support at 130 Euro.
Both MACD and RSI are confirming a bearish view.
See you soon with new trading ideas,
Cheers
Simone
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
Performance in percent since Trump election (Dax Index incl. all shares)
drive.google.com
Best regards :)
Aaron
Until the market VOWD trading between MONSTER GAP of 143.55 & 160.20 (sep`15) again traders have still to overcome only one hurdle. The MINI GAP between 141.40 & 142.45 (which was created between last trading day `15 & first trading day `16) & 1st Quartal`16 high (139.35).
All in all VOWD got a flat year 2016!
And therefore have a argusauge on the downside,...
