It looks like AMC broke its established trend line back on the 25th and is coming in for a full backtest. If it can recover this trend line there is still another level of resistance right above at 60 so not looking too hot.. IF it can recover and hold above 60 then it could go straight up to 65 and/or retest the ATH.
Comment:
I should note, we haven’t made a lower low (below 52.30) which will keep the bulls in the fight and the momentum up.
Comment:
It's never easy with these momentum stocks but so far it's looking like a strong rejection off the trend line.