AMC Fib lines lining up

AMC fib retraceement right now lining up with some key areas, first the 50 fib has been somewhat of a pivot over the last few sessions of consolidation. Meanwhile, this 50DMA switched to a possible resistance level late last week. Heading into the new week these will be key areas to pay attention to for longs and short alike. In addition, volume will also be important to note. Lighter volume Thursday and Friday compared to earlier in the week was the lowest since 7/12.

Last week's news Adam Aaron assumed the Chairman role was seen as somewhat of a non event as it really didn't translate substantially in the market.

The full AMC Entertainment Holdings, Inc. Board of Directors now includes:

Adam M. Aron – Chairman of the Board and CEO; former CEO of each of Starwood Hotels and Resorts Worldwide Inc., the NBA’s Philadelphia 76ers, Vail Resorts and Norwegian Cruise Line, as well as having been the chief marketing officer of both United Airlines and Hyatt Hotels & Resorts

Howard W. 'Hawk' Koch, Jr. – Movie producer, principal at The Koch Company, former president of the Academy of Motion Picture Arts and Sciences

Philip Lader - Senior Advisor to Morgan Stanley Institutional Securities; formerly served as the U.S. Ambassador to the Court of St. James’s, Administrator of the U.S. Small Business Administration, White House Deputy Chief of Staff, Assistant to the President and Deputy Director of the U.S. Office of Management & Budget. Also former Chairman of WPP plc

Gary F. Locke – Trade consultant and owner of Locke Global Strategies; formerly served as Governor of Washington, U.S. Secretary of Commerce, and the U.S. Ambassador to the People’s Republic of China

Kathleen M. Pawlus – Retired partner of Ernst and Young, LLP having served as the Chief Financial Officer and Chief Operating Officer of its Global Assurance practice

Anthony J. Saich – Director of the Ash Center for Democratic Governance and Innovation as well as Daewoo Professor of International Affairs at Harvard University’s Kennedy School of Government

Adam J. Sussman – President of Epic Games; former Chief Digital Officer of Nike, Inc.

Lee E. Wittlinger – Managing Director of Silver Lake; formerly an investment banker at Goldman Sachs in its Technology, Media and Telecommunications Group