The worst has past
Updated
AMC will continue up from here. This prediction is based on the daily downtrend being broken. Q4 earnings are expected to be positive and are reported end of February. At this time new money will possibly start flowing into AMC leading up to this crucial moment.
Comment
The range that I drew for the purple line is the bullish range for the hourly chart so if we re-enter it then we will see a bull trend. The goal is to break above the magenta line which signifies the downtrend on the daily. I still believe the red line at $4.00 is the bottom as we did reverse split so $4 is actually $0.40. With this logic AMC is typically a $5-20 stock so $0.40 is a major discount.I will update this idea if we break the magenta line. (Up or Down)
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.