Get ready for another massive AMC pump. My conservative target is around $10. We have a Bullish convergence on MACD, price is trading above the fast moving averages (11,25,50).
Note
Just came back and will update the chart later today and try to explain what happened after hours on Friday.Note
As promised here's an update on what I think regarding $AMC. As everyone has seen 
AMC took a massive dive after hours all the way down to $3.50. The drop occurred on very low volume and took out all the stops below $4, $3.90 and $3.80, on top of that the move mitigated the order block from March 2021 at around $3.50. For me that looks like a massive liquidity grab before another rip to the upside. Right before the Friday close puts increased in value which gave us a heads up of what was about to happen, someone wanted the price to drop. I had a look at the order book and huge positions got filled !Since the drop happened on very low value it created a volume imbalance/liquidity void between $5.26 and $3.50. We do know that sharp moves are not sustainable and the big boys will need to square up and come back to the volatility shift line / order block from where the drop occurred.
From a pure technical perspective AMC is a textbook chart, we had a nice upward trend starting in Jan 2021 before it finally topped out in June 2021. From there we had 574 down days before it bottomed out at the Fibonacci sweet spot between 61.8% - 67% and has been trading sideways since then, which is good, because trader's theorem tells us that non trends transition into trends and trends transition into non trends. I have outlined order blocks on the chart (Pink boxes) where price has to come back to in order to mitigate open positions by the HFs.
AMC is finally becoming profitable and is here to stay for good, bankruptcy is currently off the table.
Some date: Shorts dropped 8% from 150 mil to 132, looks like some shorts got scared.
T+35 on the NYSE Regulation Short List
Estimated Short Interest 27.49%
38.41% of the Free Float On Loan
8.4 Days To Cover
81.99% Short utilization
Average Cost To Borrow 348.66%
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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.