$AMC looks horrible. Downside to $4.88-6.28

Apr 26, 2022

AMC is forming lower lows and has just broken under resistance which sets up a move much lower.

I think price is likely to fall through the $10 support and end up somewhere between $4.88-$6.28.

Let's see how it plays out in the coming weeks.

May 4, 2022

Note

Possibility that there's a bounce over the coming 2-3 weeks, but the bounce doesn't = reversal in trend. Still think lower targets will get hit... just wait it out. I think we're entering a wave 4 out of a 5 wave trend to the downside, wave 5 is usually the most violent. Once there's a large down move in one day (ie. 20-50%), that's where I'd start looking to buy.

May 11, 2022

Note

Getting closer to the last support... let's see if it holds, or if we fall to $6.28.