$AMC - Is the bottom in?
Aggiornato
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.
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.
Ordine annullato
Piece of crap invalidated my theory. AMC is dead to me as per technical analysis goes. Good luck to anyone who continues to hold.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.