$AMC - Is the bottom in?

2023年8月15日

Disclaimer: I have long followed AMC and I personally hold a small position.

It recently found an area of support which will be extremely tough to break, and based on today's bounce, it confirms that.

Bull Analysis:

*Recent earnings = long awaited positive statement with positive future earnings outlook

*Falling Wedge with RSI divergence:

Falling wedge further information: dailyfx.com/education/technical-analysis-chart-patterns/falling-wedge.html

*Support and bounce from near the 76.4% fib retracement (Elliot Wave 2 target) although I still think it gets to $2.78, personally:

*Upper target Wave 3 target (pre-stock split) would be $475 - $623:

*Upper target Wave 5 target 200% fib(pre-stock split) would be c.$4000, but AMC hitting this seems very unlikely:

Bear Analysis:

*A Break below $1.18 (pre-stock split) would invalidate the bull thesis.

*Historically speaking most heavily shorted stocks will fall following a stock split. It could also break the bull thesis. Some interesting research on stocks following a stock split: sciencedirect.com/science/article/abs/pii/S0148619515000648

Time will tell and hindsight is a wonderful thing.

2023年9月6日

取消訂單

Piece of crap invalidated my theory. AMC is dead to me as per technical analysis goes. Good luck to anyone who continues to hold.