grahammk

AMC in a Bullish Descending Wedge

grahammk Updated   
NYSE:AMC   AMC Entertainment
AMC From what I can see is that if you can get a Buy around 4 an expected breakout should move it back up to $5.5 for a potential gain of 37.5% within the next 4- 6 weeks. The CMF is rising nicely meaning it's currently under accumulation and it has been trending well below the 200 day MA for quite some time. Perhaps their financials may be improving as they could be riding a new seasonal change where people just want to get out more after a long cold winter. The trading range within the wedge has been tested a few times and looks like there's only another 10 days before a bullish move should take place, if not sooner.
Comment:
Not sure what the heck this HKEX:4 is... I had typed $4.00....
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