AMC - THIRD SPIKE AREA
TRUE BREAKOUT AREA THAT EVERYONE IS WAITING FOR.
This area is not exact as we need to hit the 50 price area after finding support around the 19 price area. Once we reach that 50 price area and pull back from it, this will be the upper resistance area that I am looking for to rest the upper wedge line on. This line will meet the lower support wedge line that extends back to the initial spike and the second major support on the 19 price area that should be coming.
The body within the wedge to be formed between the 2nd and 3rd spike will mirror closely the body of the wedge that formed from the 1st and second spike.
This area is not exact as we need to hit the 50 price area after finding support around the 19 price area. Once we reach that 50 price area and pull back from it, this will be the upper resistance area that I am looking for to rest the upper wedge line on. This line will meet the lower support wedge line that extends back to the initial spike and the second major support on the 19 price area that should be coming.
The body within the wedge to be formed between the 2nd and 3rd spike will mirror closely the body of the wedge that formed from the 1st and second spike.
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