Hello fellow enthusiasts, The chart speaks for itself I guess. I will short if we indeed do break the neckline of the head and shoulders pattern. This pattern has a target around 57 which lines up with the support there. Happy trading, C.J. * This is not financial advice, please do your own research to make your own decisions *
Missed entry and hope to buy on pullback to 60.50 It obviously based at around $60, and could perhaps be in the middle of forming a right shoulder of an inverted head&shoulder pattern in the uptrend. AMCX Horizontal S&R: trading w/in a obvious base Channel S&R: yes, rising up trend. MA S&R: above both 20 and 50 >200ma: yes Volume confirmation: obvious spike...
AMCX: AMC Networks Inc. Received: 2018-06-13 08:30:04 Detected possible stock repurchase
This is a bearish swing trade I may enter next week. If I do I and it moves in my favor I will be very aggressive when it comes to moving my stop. My 2R target is down at $45.85 but there are three pivot lows that will be in between my entry and my target. To me, AMCX looks pretty weak and even weaker when looking at the hourly chart.
Engulfing bullish candlestick in AMCX.
Problem: bad RR Ratio an perhaps against the broad market.
Triangle set up break out of 63, next target at 65. (65 can also be a breakout point so half profits and let the rest play out)