Since November, AMC CEO Adam Aron has sold more than $40M worth of stock and looking at the technicals it's no wonder - chart is riding the downward parallel channel and appears to be heading down to pre breakout levels $15 then $12.
Expect a few pops along the way, but with institutions and the executives dumping on retail, not much bullish MOMO in this stock... for now
Expect a few pops along the way, but with institutions and the executives dumping on retail, not much bullish MOMO in this stock... for now
Nota
Wow over -8% in a day, not even a bounce ! Looks oversold to me, take profits and wait for next pop to short :) Nice Trade !Nota
with the low of 14.23 today I would be taking profits as first PT is hit :) Wouldn't be surprised if bulls rally soon here to squeeze the shorts before we see more downside.
Note, a break of the down trend resistance line with confirmation invalidates the short thesis and PT $12
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