$AMC back to $2.72

$AMC looks like it's headed for another low. I could see the potential for AMC to rally up to the $8.30ish region, but if price rejects that range or just falls here, it increases the likelihood that AMC will fall from here back to the $2 range.

The bottom of the blue channel structure has already been tested multiple times and has weakened support. If it breaks the bottom of the channel price should decline quickly-- back to the $2.72 area.

Be careful if you're long.

Comment:

Lol at the longs in the comments.
1. Can't read the analysis where I said there's a possibility of a short term rally (which already played out).
2. Can't read a chart.

Set tight stops.

Comment:

Welp... to all the people that laughed in the comments, hope you enjoyed holding all the way down.

Now do yourself a favor and learn how to read charts so you don't make the same mistake again.

Comment:

The worst part is, this could still go lower. I have sell signals on the weekly and two week charts. Maybe we get a pop over the next month or so, if it happens, I'd use that opportunity to get out.

Maybe penny stock status? Bankruptcy? We'll see...