Cineworld Regal Theaters (CINE.L) (CNNWF) double bottom ReversalCineworld has been selling down for some time and is now retesting the top of the previous cup and handle. A double bottom reverse has been detected. We see a rise in price over the next 90 days as theater chain and overall economic outlook improves.
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Cineworld Group is a British cinema company based in London, England. It is the world's second-largest cinema chain, with 9,518 screens across 790 sites in 10 countries: Bulgaria, Czech Republic, Hungary, Ireland, Israel, Poland, Romania, Slovakia, United Kingdom and the United States
Theaters
Will AMC do what GME did?One of the largest theater chains in the world took a beating with their financials due to this pandemic. If you are optimistic and enjoy the cinemas, you could think that with vaccines and a possible healthier post-pandemic world, where everything goes back to normal... that AMC can recover. Which is certainly why I have this in my long term investing portfolio. However this is very risky as they are on the brink of bankruptcy, a major business plan revision would be needed. Now... recently it was up nearly 7% Friday with no related news to the business... over 100 million volume came in (3-4x avg vol), this could be the pump situation that happened with GME and we could see a big move coming shortly so this gives couple lotto options that i would consider
1) Buy shares here, sell at the possible resistance I have on the chart or ride it up to my pt (medium risk: low reward)
2) $1C for 1/2023 now around 200$ (I'm already in, low risk: high reward leap)
3) $3C 1/29 .42 lotto or $5C 1/29 .23 (low risk: high reward)
Disclaimer: Im not a financial advisor
