AMC has had a very strong run all last week. It is currently trading in a pattern and is at a crucial point at the bottom of the triangle. If it fails this support we can expect the price to drop down to the yellow S/R line shown or the 55EMA. Covid-19 is slowly becoming less of a major topic and movie theaters are beginning to pick up in sales, so I wouldn't be surprised if this continues to grow. I'm not 100% sure though but if it bounces successfully we can expect a battle at the top of the triangle before breaking through to retest the previous high. Let's see. If entering a trade don't forget to use a stop loss. Don't trade with what you're not willing to lose.
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This is not financial advice.
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