AMC does this everytime it bottoms and then she runs
Updated
As you can see, AMC loves to retrace to and even below the 0.786 fib level everytime we reach a bottom and try reclaiming levels again. Then AMC pops off and usually gains some 70 to 1000% right afterwards. The share offering allows AMC to further reduce debt, which if I remember correctly could be completely wiped with only half the money due to low trading AMC-Bonds. (Remember the 007 picture AA posted referring to BOND?). This may allow AMC to finally give out a dividend which will most likely be the narrative for the next run.
I expect a touchor even a break of the 50 day sma before February 2024.
Hyped for the future of this company!
I expect a touchor even a break of the 50 day sma before February 2024.
Hyped for the future of this company!
Note
Furthermore AMC literally 4 WEEKLY closes outside of the Bollinger Band. In march 2020 a similiar move took place which was followed by a 295% gain within 10 weeks post-bottoming.
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.