Hello Traders and Investors,
This is my long term view on AMC and where I think price will reach if the squeeze happens. Similar to Bitcoin and GME, when both assets reached the 1.618 fib extension they both had a steep drawdown and never went above it even as of today.
Using the same strategy to pinpoint potential targets. I believe $220 is a great price target to take major profits off the market if it is reached. It is best to have a target set, that way when the action happens, you are ready to take action based on predetermined conditions and not on pure emotions.
Let me know what you think.
This is my long term view on AMC and where I think price will reach if the squeeze happens. Similar to Bitcoin and GME, when both assets reached the 1.618 fib extension they both had a steep drawdown and never went above it even as of today.
Using the same strategy to pinpoint potential targets. I believe $220 is a great price target to take major profits off the market if it is reached. It is best to have a target set, that way when the action happens, you are ready to take action based on predetermined conditions and not on pure emotions.
Let me know what you think.
