Mar. 23 at 7:35 PM
$AMTM There is a couple of things to notice on this chart. !st of all, todays candle is forming an inverted hammer. It's also bouncing off the 200-day (blue line). An inverted handle, with lower volume in a downtrend, signals sellers might be getting weary and a reversal could happen. Think of a downtrend and that hammer is kicking buyers in the butts. Now, what to look for? The 5-day (green line) is still under the 10-day (yellow line), so momentum is still negative. If Tuesday candle starts to trend over the 10-day, that should bring the 5-day with it. Watch for volume. If it's an uptrend, volume will follow. If I see that, I may look at a position because the next real resistance is the 21 (orange line), around 29.00. If this opens lower, the pattern is a fake. Let's see Tuesday which way to go.....
