$AMC Sits in Clear Bull Pennant, Whether it Makes Sense or Not

AMC Entertainment Holdings, Inc.NYSE

Description

⋅ Jun 30, 2021 5:42 AM

AMC, no matter what you think of it on a valuation basis, is sitting in a bull pennant pattern. Those should generally be respected.

They very rarely lead to outright trend reversals without so much as a test of trend highs first.

Comments

EquidyRider

⋅ Jun 30, 2021 1:49 PM

Agreed! lets hope for the best over the next couple of days!

GregFolin

⋅ Jul 3, 2021 2:10 AM

@gterrazzano played out perfect.

EquidyRider

⋅ Jul 3, 2021 2:34 AM

@GregFolin, are you short? That could have been ugly after that dip today. Many are saying this is a symmetrical triangle, we need a catalyst next week