It looks like we are seeing a buildup and consolidation of AMC after the recent jump and subsequent drop it had. Trendline is holding and momentum seems to be building. I am long AMC common shares and anticipate this to jump deep into the $50s within the next few weeks.
Comment:
It's make or break time, we are right on the trend line. If the trend line fails I will be exiting my trade as it will likely gap fill down at $40-41, where I will re-enter.
Comment:
Line held on the hourly (it's a little harder to see on this chart), we're looking good after testing that support. Cut if this thing drops below $43.30
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Trade closed at $47.10. Awesome trade, got a little dicey there last week when it broke below the wedge but it came back with a vengeance.