It appears AMPL may be setting its first higher low. We broke out of that downward wedge which dated as far back as July 27th.
Prediction #1
We bounce around inside the channel eventually leading to a break downward. We may form a double bottom similar to the price action on August 9th of $0.54.
Prediction #2
We bounce around inside the channel for a day or two and eventually see AMPL break upwards towards the $1.50-$2.00 range. FOMO hits the market again, who knows how much higher it goes at this point.
Prediction #3
This one is not pretty and I think there’s a good chance this still could happen. Sure, lots of people have capitulated, but whales like to squeeze ALL of the juice out of that orange. This current price action could be a fake out. We may dip down to $0.47 forming a double bottom from back in March of 2020.
Percent chance of each prediction happening.
I know it seems very cynical of me, but prediction #3 appears to have a 50% chance of happening, in my opinion. I would say prediction #2 has a fair chance of happening as well, let’s say 25%. Obviously prediction #1 has about a 25% of occurring.
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