AMC - Week of June 17, 2024
Updated
Its been a while since I published anything. I have been working on getting better at my skills and TA, just to be honest.
Two years later and AMC looks attractive again. Why?... Well it derives from a bunch of degenerate cultist (like myself) who believe in the stock / company, the evolution of what we know as the theater industry, and same fractal patterns reoccurring. Oh yeah, and the correlation of GME and AMC being exact.
So I will approach this PROJECTION (because thats all this is & NOT FINANCIAL ADVICE!) as a sympathy play to GME. See GME analysis on the next post.
I begin doing a top down analysis. Here is the Monthly view on AMC. Currently price closed at 4.99 on June 14, 2024. lol Cant make this up!
I simply see a Dumb Money sequel - Hedgies Getting Wedgies -
Coming to an AMC theater near you.
When we squeeze I see it AMC going to 174 - 154 per share price before it is met with great resistance and pulls back. Here is where the real test comes, we will see if with enough force AMC breaks this wall of Hedgies. Shall it have a blow the top off moment, it needs to stay above 195 to get to All Time Highs!
I could be completely wrong and it goes to zero....
AMC
Two years later and AMC looks attractive again. Why?... Well it derives from a bunch of degenerate cultist (like myself) who believe in the stock / company, the evolution of what we know as the theater industry, and same fractal patterns reoccurring. Oh yeah, and the correlation of GME and AMC being exact.
So I will approach this PROJECTION (because thats all this is & NOT FINANCIAL ADVICE!) as a sympathy play to GME. See GME analysis on the next post.
I begin doing a top down analysis. Here is the Monthly view on AMC. Currently price closed at 4.99 on June 14, 2024. lol Cant make this up!
I simply see a Dumb Money sequel - Hedgies Getting Wedgies -
Coming to an AMC theater near you.
When we squeeze I see it AMC going to 174 - 154 per share price before it is met with great resistance and pulls back. Here is where the real test comes, we will see if with enough force AMC breaks this wall of Hedgies. Shall it have a blow the top off moment, it needs to stay above 195 to get to All Time Highs!
I could be completely wrong and it goes to zero....
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