AMC Entertainment Faces Steep Drop Below $10
Updated
Without securing price action above $60 during the pending upside swing, AMC faces a very steep drop below $10, more likely to find support near $5. Considering the trending upside move and its 3 wave structure, this eliminates the possibility of AMC being in true impulsive form.
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upside corrective (B) wave seems to have completed already in all likelihood.AMC could be on its way to sub $5.
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An update on AMC's precarious scenario:Note
Any takers on this stock sinking below $5?Note
flush out!Note
How much could you have saved during this 50% drop?Trade closed: target reached
new ATH likely to come for AMC. decent buy zone.Order cancelled
Update: AMC is likely due to see new all-time lows in the weeks ahead. Formation doesn't speak to any upside before then.
Join me on the waves, where its safe. discord.gg/QRPx6ShxMt
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