So why is amc stock going up today? What's going on team, it's ricky with tactical solutions, a very quick answer, just if that's what you're looking for like what is causing amc stock to go up it's up 3.7 on the day, we can look at it on the one day. One minute chart it's. If anything almost somewhat peaking at 37, there was a report that shared that in october, amc, which is amc, theaters experienced its best performing month since covet. So in the past 20 months, amc experienced its most profitable month in the past 20 months.

So that's a step in the right direction. That's very exciting for a company, that's obviously been struggling, especially through this whole meme stock movement. It's great to see that they've actually been able to now actually do well. Are they actually valued at 36, 37 or 70? Right? Is the squeeze going to happen? That's completely different than what is going on today today and what is causing it to go up is actually based off of news.

There's an actual reason on why amc is going up today and it's not just based off of again a meme stock revolution. If anything, i'm sure that's an overreaction uh, but one of the things that i quickly wanted to cover is that emc actually does not look too bad and please feel free to share your own thoughts down in the comment section on the technical aspect, you guys can See that amc peaked at 40. We encourage people right to be aware of that resistance level that we've been experiencing multiple multiple times right right around 40, a share after it pulled on back. It began to find a support level at around 35.

A share surprise. Surprise. That's where it tends to find a support level based off of previous patterns. So when looking at amc, not only was it selling off and getting rejected, but it was trading below the ema line after it broke below 40 dollars a share when something trades below the ema line, which is this light blue line right here, it indicates signs of A bearish pattern, meaning that it begins to sell off, making lower lows and lower highs, simply selling off in value once it establishes a support level right once we get that consolidation and it finally establishes that support level, meaning that it no longer continues to sell off.

Then we can actually begin to make a recovery. Today is one of the first days that we are now trading back above the ema line, which is a step in the right direction. Now this doesn't mean that amc stock has to shoot up that it has to recover, but it's a step in the right direction. It's looking good on the technical aspect.

It's still looking cheap based off of previous highs and previous support levels, and it's treating above ema, which is again at least indicating signs of growth. Following up with this news that was shared over the weekend that amc had its best performing month in the past 20 months in october, that's a step in the right direction. Lastly, one of the things that i want to share with you guys is that amc is expected to report earnings one week from today. According to my understanding november 8th november, 8th amc is reporting earnings.

All i want to share with you is yeah. Amc has been doing a lot better now, so they might be able to beat expectation, but one of the things that you have to understand. It's not always so much about beating the eps, which is the earnings per share, but also not providing negative guidance. So if they expect their demand levels to go down in the near future, that can actually cause the stock price to go down, even if their guidance or and or their eps actually exceeded expectation.

We see this all the time where, especially in tech stocks, where tech stocks beat earnings per share, but their guidance is off and or they're not going to be able to keep up with current demand levels, so the stock price actually goes down so understand that earnings Is a tricky thing i normally don't like holding a stock during earnings, i'm very excited for this upcoming monday. I'm not here to encourage you or discourage you to hold your position at the end of the day. It should all be based off of your actual intention. If you're comfortable and you can tolerate a pullback, then again feel free to hold if you're, someone that doesn't want to experience a pullback and you can't manage or mitigate risk, then maybe holding isn't the best solution.

For you understand that there is no perfect right or wrong answer for each one of us. We all see value in different ways and we all manage our risk in different ways. So just do whatever you think is best for your future self. So it's a step in the right direction, with the news that we experienced today, it's a step in the right direction that we're now, in the four hour time frame, we're trading above the ema line and establishing a support level.

So we'll see so what i'm looking forward to is higher highs and higher lows doing the exact opposite of what it, what it's been doing, where it's making lower highs and lower lows, i want to see a steady upward staircase pattern, just like we did last time When we began to trade above the ema line, and then we shot right back up so the last thing is waiting for this earning report to come out and to see after it's had a very strong performing month and a better performing quarter to see if it Actually beats expectation and its guidance, hopefully, is in the right direction where we can see this really gap up. So let me know in the comment section what you guys think about amc. I wanted to share with you guys my position. My overall update, i slightly reduced my position size on amc when it hit 37.

I had 2500 shares now. I only have 1500 shares. I'm comfortable holding 1500 shares just in case it pulls on back, but guess what? If it begins to indicate signs of an uptrend, then i'll simply begin to buy more right, have a reason behind everything that you do. If it's indicating signs of an option, then don't be afraid to average up into something it's not always about having the lowest price point.

But if it's indicating signs of a resistance level, then maybe reducing position size to anticipate a pullback, isn't the worst idea. The last thing that i want to share with you is that facebook, it's now called facebook, which is made of platforms, incorporated little heads up on that on the on the day chart. You guys know that i've been string trading this and on the four hour time frame, it's now finally beginning to indicate sign of an option. I began buying facebook at 310 to 312 a share, and it's great to see that now it's at 3 30 a share.

Facebook has so much more to go. It's still trading below the ema line, so you're not missing out on anything we're still waiting for full-on confirmation. I have about a 40 000 position size on facebook right now, we're just waiting for confirmation of an uptrend and to see if we get those higher highs higher lows. If we do i'd love to be able to work our way back up to 385 a share, but again i need to get that confirmation that we begin to trade above that ema line on the day chart, and if we do, then i would love to average Uh up into my position on facebook, so i want it up to you guys both on amc and on my facebook position and feel free to.

Let me know down in the comment section what you guys think about that. Also. We had an amazing live training session. Today, with the learn plan, profit group, if you've never, this is only for people who have never watched me.

Trade live if you've never watched me. Trade live click. The first link in the description. It's going to send you on over to my instagram and just message me live trading.

This is for, if you've never watched. One message me live training. I respond to all of my direct messages and i will send you and give you access for the private live training session tomorrow, so you can get a taste of what it's like and if you like it, then we'll see you with the following market open. So, like always, let's make sure that we end the year on our green now.

Take it easy team.