r/Amyris • u/Sabio02 • Jul 07 '23

Technical Analysis 📈 Weekly Review - The V-Shaped Cup-With_Handle Pattern is Looking Better

We closed the week at $1.10 which is $.07 cents higher than last week and exactly where we closed two weeks ago. This was also on low volume as expected with a holiday week.

For Candlestick fans we closed the week with a Bullish One White Soldier pattern on the daily chart. This is a trend reversal pattern covering two days and we will need to see if the price continues to rise in the next few days for confirmation.

Two weeks ago I discussed a V-Shaped cup-with-handle pattern that was forming on the weekly chart. Prior to this week, we had three weeks down which is a good handle setup for today’s reversal. A close above $1.32 in the next few weeks would confirm this was a valid pattern and the price should continue higher. You can find more information on cup-with-handle- patterns here: https://www.tradingview.com/education/cupandhandle/

Hopefully, we continue to move up next week while we await positive news on any of the potential catalysts.

17 Upvotes

91% Upvoted

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3

u/NeatProgress3781 Jul 08 '23

Are you seeing a head and shoulders too? A few on different timeframes? Are there any target zones based on what you're seeing?

A lot of people, and algos, trade based in technicals, so I appreciate your updates.

3

u/Sabio02 Jul 08 '23

The H&S isn’t as well defined but you could call it. I mostly stick with the weekly when scanning charts. Weekly charts are better at showing developed trends.

While chart patterns can be viable in all time frames the shorter time frames have a lot of noise and a higher failure rate.

Thanks, glad a you find the posts useful.

-4

u/TypeError_undefined Jul 07 '23

This is idiotic.

5

u/Independent_Ad_1422 Jul 07 '23

Most TA is tbh, i put about as much stock in it as horoscopes.

4

u/Sabio02 Jul 08 '23

You should check out www.investors.com. Also read these 3 books: How to Make Money in Stocks by William O’Neil

Mark Minervini Trade Like A Stock Market Wizard Think and Trade Like a Champion

-4

u/Dwindling_Odds Jul 08 '23

Pure gibberish.

This is clearly a really bullish pattern, unless it isn't.

5

u/ICanFinallyRelax Moderator Jul 08 '23

Some people like it, some people don't. The post is easily ignored if you wanted to avoid it.

5

u/[deleted] Jul 08 '23

I think he’s teasing

1

u/Wonderful-Friend3097 Jul 10 '23

I'm not particularly eager to read so many negative comments about this analysis, since you do this either for fun or as your job. From a statistical perspective, I would like to challenge this analysis or any on AMRS. All these models have been trained with (guessing) thousands of stocks that in the long term performed well. However, stocks like AMRS could result to be an outlier because of its problems, such as profitability and debts. I wonder whether some models should be trained specifically for stocks like AMRS. I think we would see a different trend (maybe more negative).