AMC quotes continue to move as part of the correction and the formation of the ”Triangle” pattern. Moving averages indicate a short-term bearish trend in the AMC. Prices moved down from the area between the signal lines, which indicates pressure from the sellers of the securities. At the time of publication of the forecast the share price is 52.01. As part of the forecast, we should expect an attempt to develop a correction and a test of the support level near the 50.55 area. Further, the rebound and the continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 80.05 in July 2021.
AMC Forecast and Analysis for July 2021
An additional signal in favor of raising the AMC quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ”Triangle” pattern. Cancellation of the growth option for the AMC stock price will be a fall and a breakdown of the level of 40.05. This will indicate a breakdown of the support area and a continued fall into the area at the level of 20.05. Expect an acceleration of the rise in stocks with a breakdown of the resistance area and closing above the level of 60.55, which will indicate a breakdown of the upper border of the ”Triangle” model.
AMC Forecast and Analysis for July 2021 assumes the development of a correction and a test of the support area near the 50.55 level. Where can we expect a rebound and an attempt to continue the rise of the pair to the area above the level of 80.05. A test of the trend line on the relative strength index (RSI) will be in favor of the growth of the currency pair. Cancellation of the AMC rise option will be a fall and a breakdown of the level of 40.05. This will indicate a breakdown of support and a continued fall in value to the area below the level of 20.05.
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