AMC catching support

Jul 9, 2021

Some stopping volume came into AMC with lower volume on the PB off of support. Price should continue to resistance.

Jul 12, 2021

Note

AMC didn’t react as expected. If you look at the chart, the next few candles all developed with much smaller volume than the bullish candle before signaling there is no effort to push price lower and it is acting on the path of least resistance. I expect price to bounce once it reaches the demand zone. If it breaks the low of the bullish candle, I will have to sit on my hands and wait for the action to tell me what it wants to do.