CALL ME CRAZY but $AMC is about to cycle #bullish $5-7.50 test Long
AMC Entertainment Holdings, Inc.NYSE
Description
⋅ I have noticed a trend in the recent price action of AMC.
** We closed 2023 at $6.18**
Upon hitting the $4 (4.08) region AMC shows signs of bullish outbreak.
When testing 4.08 on 1/17/24 it implused up to test 4.80 almost $5 test in the next 5 trading days following.
DON'T LET THE MEDIA FOOL YOU!
"MeMe StOcKs ArE dOnE"
Waiting on Cramer to diss NYSE:AMC again as another leg on confluence
Testing TWICE can possibly confirm a double bottom which is another confluence for a bullish outbreak as bottom has formed.
NYSE:AMC has not adhered to typical technical analysis in the past as it is heavily manipulated.
This week has some large earning reports in tech sector which can possibly provide EXTRA volume to push NYSE:AMC back above $5.
I am entering a 7.55C 2/23 exp at market price of $4.15
#bullish #AMC #breakout #memestock
This is simply a thesis and not Financial advice. Please use your own risk management and judgement.