The pennant setup for the current session is identical in shape to the previous session where AMC pumped from $20 to $77.
Additionally, the Fib-Trend lines up the price action very well.
Lastly, we have seen thousands of call options open on AMC for the $145 strike in January 2022.
They are doing price discovery, we can see the most of the buying between $28-$45 with the majority throughout the Wyckoff Accumulation phase I posted about on 07/29, see link below.
From the beginning of this, I told everyone I knew to buy AMC, they would ask "what do you think it's actually worth?" and I always thought that it was worth $30. Obviously things can change, with AA leadership I hope we see some new innovation on to of just doing what AMC does best, but that is more of a fundamental discussion for later on. We could also see an economic collapse or margin call change how any of this plays out.
I think it’s much sooner than that if you draw the descending trend line from June peak like you did Jan peak
Fisbin
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@iamtwistedseoul, Yeah I have played around with it for some time now and have drawn it from the wick peak and gotten a few shorter timeframes, like November-December this year. I posted it drawn from the body of both peak candle events without the wick since it also lined up nicely with those deep OTM $145 calls in January 2022, and the fib levels lined up with the major price action. I do agree the next major move for AMC could happen sooner.
ary2001
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Wait does it strike within that time period. Or on it?
Fisbin
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@ary2001, Around that time. There are a few factors at play that could change the overall outcome between now and then as well.