$AMC Price Prediction
AMC printed a beautiful bull flag at the close today, bringing this higher after hours towards its 100% Fibonacci Extension level, price point being around $36.20. As long as we can hold this area as support, the next fibonacci zone would be between $36 and $57. As shorts cover, I expect this to be nothing less of parabolic as this new zone acts as support for the next wave move towards $57. Watch for this level, and be prepared for a minimal pullback near those levels. Until then, I expect tomorrow to bring us at least near $45, and with the stock offering being announced today, it definitely brought some negative sentiment that was reflected in the price action today.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.