So let me get a show of hands of how many people are excited for amc to break above 50, a share. What's going on team, it's ricky with tactical solutions and, as you can see, right amc is a company that i had over 2000 shares. I actually had over 10 000 shares of amc stock as it began to approach previous highs again around this 48 to 47 dollar resistance level. One of the things that i like to do on my channel is regardless of me having an open position and me being bullish on amc and being bullish on any stock, regardless of what it is that i'm currently trading or investing in.

I always need to make sure that i look out for the beginner trader, and that is why i made that video a couple days ago talking about the risk involved. That again, it's quite frank right. If amc does get rejected at that 49, uh or 48 to 47 price point, we could easily pull right on back to you know 30 or 40 a share, and if we break below that again we can drop right back down to that 28 support range. So i'm someone that doesn't just like to talk about the upside i like to talk about the risk involved.

Just so you're aware. At the end of the day, you should be the final decision maker, whether you decide to take advantage of an opportunity or not. I'm very happy the way that i approached it right because if you guys have been watching my videos, especially if you're part of the learn plan, profit group, one of the things that you would have known as the last time that we approached this general area right Around 48 a share i had 10 000 shares of amc. I sold most of my shares.

Do you guys remember, and i anticipated i can't predict the future right, but i can prepare for a pullback at these overbought levels and there's no question that we have been overbought before and we've pulled right on back before on around 48 to 47. So it didn't really surprise me when it pulled on back and guess what, when i sold those six to seven thousand shares, it allowed me to buy the dip on amc right and then right at the recovery. I only did it with about a little bit over 2 000 shares, and then i decided to lock in again a portion of my position. I still have 600 shares.

I want to explain to you my plan. It should be pretty simple for you guys to follow through with it. The reason i am still holding 600 shares is just like. I said in the beginning of this video, how many of us are waiting for that technical breakout at 50? A share.

We have not been able to trade above 50 since we broke below it. It's been one of the most, the the strongest resistance level that amc has been able to present. You know: first, it was 30. Then we broke above that then it was 40.

We broke above that and now we're showing this bull flag pattern. Everything looks great. The the setup looks great. You know it's showing signs of higher lows.

It has that horizontal resistance level, it's right around 48, a share after market hours, it's at 47.34. It looks great, but i can't be naive right. I can't be too hopeful one of the things that i shared with the learn plan. Profit group is, we need to understand that, like we can always get back into amc or to any stock right.

This is for any stock that is about to break out all i'm, treating the way that i'm treating amc right now is it's as a breakout as a technical trade. If it breaks above this previous resistance level, i can see there to be a breakout. Push is above fifty dollars a share and potentially up to sixty dollars, i can always buy back in. I can buy back in with two thousand shares i can buy back in with five thousand shares, but one of the things that i cannot always do is if amc does get rejected, just like it has before the past two times at 48, a share and right Around 48 dollars a share and it pulls on back.

That's gon na affect me more because now it pulled on back and if i'm fully invested, i have no more money to buy the dip, and i don't want to put myself in an unfortunate situation. I'm not saying that all of you guys should sell at the end of the day like it should not concern me what you guys do as it shouldn't concern you what it is that i do i'm explaining to you why i'm doing what i'm doing right, explaining The thought process behind it. Why would i reduce my position size at 47 when we're still bullish well based off previous resistance levels? We tend to get rejected here, but if we do break above, i still have 600 shares. So i still have some skin in the game and if we do break out, then guess what i'll be right back in with those two to four thousand shares into amc and i'll.

Be writing it back up with you guys, just like again, we've been anticipating, but this anticipation of waiting for the breakout. I don't want to do it in a very naive way. I don't want to hope for it to happen. I want to prepare for it.

I know i can always buy back in. I know that i cannot always lock in profits back at previous highs. I'm very excited to follow up with amc, but i need to make sure that i do it in a way due to the dollar amount that i'm trading with, that takes risk management into consideration. I'm very happy with the way that today played out, i made a little bit over 6 500 profit.

Today i reduced my position from over 2 000 shares to 600 shares again because we're at these overbought levels and i'm ready for this breakout if it happens, but also i'm ready for the worst case scenario. And this is something that a lot of people don't like. Talking about and again it's something that people just try to ignore if amc pulls on back to 40 a share or if it pulls on back 45 or 40, a share, even if it pulls back to 30 dollars a share. Remember just the simple saying and you'll see you'll be able to tell based off of people's comments in the comments section.

The only people that freak out the only people that get emotional, the only people that get scared are those that have too much money invested at overbought levels that didn't manage their risk, didn't manage their position, size that when the stock itself pulls on back, it's an Emotional roller coaster for them, so i can't blame them for feeling uncomfortable. I can't blame them for feeling discomfort, but that's the position that you put yourself in. I don't want to feel that way. The only people that freak out when the market pulls back or when a stock pulls back are those that did not prepare for it.

Because people like you and i, if we prepared, if we have enough money in amc, that we feel motivated that if it goes up, we benefit from it, but not so much that if it pulls on back that, i can again tolerate it. I would love to see amc pull on back. I would love to see amc potentially back at forty dollars a share at 30. A share why i want to see it break out, but if it does pull back, that's also not the worst case scenario.

For me, i'm not in such a rush to make it or break it, and it's all because of my position size if it does pull on back. I know i can buy more. I have a light enough position that it puts me in a well-balanced state of mind and that's what i wanted to leave you guys with at overbought levels based off of previous patterns. I'm not here calling anyone all right.

If you think amc's gon na go to 100 a share, i hope it does. That's why i have 600 shares left in it. I really hope it does, but put yourself in a well-balanced position where you feel motivated to follow up with it. If things go according to plan, but even if it doesn't that you can still tolerate that pullback and make sound and informed and calculated trade decisions, that's the whole purpose of this video, another stock that i wanted to quickly talk about.

I know a lot of you guys like talking when i talk about oversold stocks. It's lululemon, ticker, symbol, l-u-l-u. It recently pulled on back. It's testing previous support levels right around 85 dollars.

A share lulu is previously very bullish, very consistent. It is now trading below the sma line, so make sure you take that into consideration, but from where we're at as of right. Now, let's see if it actually works for me right on over here uh, but from where we're at as of right. Now it looks like it's not working, it's actually a little bit over eight percent margin that it has to offer from 385 to around 412., so 80 margin, it's a previously bullish stock.

I know a lot of you guys and if it's not you guys - and it's probably your girlfriend's right, if you have a girlfriend uh, then it's probably uh. You know your significant other that might like uh lululemon, and i think it's pretty cool, pretty cool to invest in companies that you use every single day and that you potentially value lululemon did an amazing job during pandemic conditions and they've been killing it even after pandemic Conditions and they're one of the few, so i think it's amazing to see them finally pull on back when they were previously super bullish. It provides us with a previously bullish stock that was consistent and now at a decent price that we have enough upside margin. It's not that it has to recover right away because it can still sell off, but it's at a price point where it would begin to make sense to pay attention to it, which is why i added it to my watch list.

I have not purchased any shares yet i have my alert for the break above the ema line and i want to wait for a proper indication of that reversal. So let me know in the comments section, if you guys have any questions about my amc trade. I love to answer it and again, just because i do something does not mean that you should. The biggest focus that i have on my youtube channel is to explain both the good and the bad, and that's all i ever want to showcase to you guys is.

I don't always just want to be someone that talks about how much profit or potential a stock or opportunity might offer without taking into consideration the potential risk in place right. It's always understanding that there's two sides to every opportunity so make sure you take time to inform yourself about the risk involved. I appreciate you guys time. I hope that i earned your thumbs up friendly reminder.

We just dropped these new trading mouse pads, they're, one of the top selling mouse pads they're 35 inches by 15 inches, and if you want to check them out they're in the third link in the description, it's at shoptechbuds.com and again, if it's your first order, you Can get 15 off so friendly reminder on that uh? But if you guys have any questions again feel free to comment down below and we'll see you tomorrow for our live trading session. And if you want to join us, that's going to be that second link in the description to join us at market open for that live trading session. Until then, like always, let's make sure that we end the year on a green now, take it as a team.