πππI found a Descending Triangle in $AMC Entertainment(AMC)$
Its share price has been falling like a rock to the bottom of an ocean when a judge ruled that AMC can release 40 million shares. AMC shareholders are unhappy about the dilution of the shares.
Can AMC recover? Let's hope so. It hopes to rev up revenue with Taylor Swift's New Era Concert film slated for release in October and other block buster films in the pipeline.
@MillionaireTiger
γThursday SpecialγCould You Find Triangle Chart Pattern?
@MillionaireTigerοΌWelcome to Thursday Special! Whether you are a beginner or an experienced investor, everyone has their own opinions on the stock market trends. How do you make these judgments? Let's start a series of learning patterns and apply them to individual stock trends. Can you spot the βtriangleβ in this pic? Could you guess which stock this is based on the following trend? What Is a Triangle Chart Pattern? The triangle chart pattern is named as such because it resembles a triangle. It is depicted by drawing trendlines along a converging price range, that connotes a pause in the prevailing trend. Technical analysts categorize triangles as continuation patterns of an existing trend or reversal. The essential characteristics of the double bottom pattern are as follows: Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles. Triangle Ascending Triangle: Bullish breakout pattern with a horizontal upper trendline (resistance) and a rising lower trendline (higher lows). Buyers eventually push the price above resistance with rising volume. Descending Triangle: Bearish breakdown pattern with a horizontal lower trendline (support) and a declining upper trendline. Price collapses through the lower support as a downtrend resumes. Symmetrical Triangle: Pattern with a falling upper trendline and a rising lower trendline. Breakout above the upper trendline leads to an uptrend, while breaking below the lower trendline results in a downtrend. πSo, today's homework is to find a stock with a triangle chart pattern! Please take a screenshot and highlight the triangle chart pattern. For example: $Salesforce.com(CRM)$ πPrizes Comment Rewards: All Tigers who leave valid comments in the comments section will receive Tiger Coins but donβt copy othersβ homework hahaha. Editor's Pick Post Rewards: If you plan to share content over 500 characters, we strongly recommend selecting the "Also repost" button when posting a comment. This way, your content will have a chance to be selected as a "Picked Post" and receive a reward of 200 Tiger Coins automatically! In addition, if your post gains high popularity, there's also a chance to win US$15-25 voucher rewards in our weekly "Creator Incentive Program."
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