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AMC ENTERTAINMENT INCAMC ENTERTAINMENT INCAMC ENTERTAINMENT INC

AMC ENTERTAINMENT INC

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AMC2 trade ideas

AMC - Week of June 17, 2024Its 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.... NYSE:AMC
NYSE:AMCLong
by AnthonyGarciaEth
4
$AMC Descending Broadening Wedge FormationOverview: NYSE:AMC is currently exhibiting a classic descending broadening wedge formation, a bullish reversal pattern that suggests potential upward movement. This setup is characterized by two diverging trendlines, with the price making lower lows and lower highs within the pattern. Long-Term Target: Based on the wedge formation, our long-term target is a move back to the top of the descending broadening wedge, around the ~$300 level. This target aligns with historical price action and significant resistance areas. Short-Term Targets: Before reaching the long-term target, NYSE:AMC is expected to hit several key resistance levels. Our short-term targets are in the $10-$15 range, where the price is likely to encounter the major resistance trendline. Trade Strategy: Entry Point: Look for entry opportunities near the lower boundary of the wedge, ideally around current support levels. Short-Term Profit Taking: Consider taking partial profits as NYSE:AMC approaches the $10-$15 resistance zone. Stop Loss: Set a stop loss below the recent swing low to manage risk. Technical Indicators: RSI: Monitoring for oversold conditions that could indicate a potential reversal. Volume: Increased volume near support levels can confirm buying interest and potential breakout. Conclusion: The descending broadening wedge on NYSE:AMC suggests a potential bullish reversal, with significant upside targets in both the short and long term. Traders should watch for breakouts above resistance levels and manage risk accordingly.
NYSE:AMCLong
by STP_MrNodeItAll
Navigating $AMC: Technical Analysis Insights for the Week Ahead.Key Observations: After market hours, the stock closed at 4.87, positioning itself just above the golden pocket as indicated by Fibonacci retracement levels from the lower low on April 26. Notably, support aligns closely with the EMA 20 at 4.72 and EMA 50 at 4.33, suggesting a potential further dip to test these levels. Bullish Perspective: Should the stock hold within the range of 4.59 to 4.35, a swift rebound is anticipated, targeting the range of 5.80 to 5.90. A crucial observation is the presence of a significant black trend line that the stock recently breached on June 3, potentially hinting at a retracement to validate this breakthrough. This forms a notable buy zone, coinciding with a potential gap fill. Additionally, a new bullish channel appears to be taking shape in the broader context, offering further support in this price range. Potential Downside: The RSI (Relative Strength Index) exhibits a downward pivot, currently residing below its average and testing the 50% mark. While there's no bearish divergence apparent yet, vigilance is warranted, particularly if a price bounce occurs simultaneously with the RSI forming a lower high, indicating a possible bull trap. A close below the newly forming bullish channel or the black trend line suggests a downward move to test 3.72. Other Considerations: The MACD indicator displays a pivot downwards, though it has not yet crossed. Similarly, the MFI shows a downward pivot but remains within bullish territory. Notably, there's a resurgence in trading volume, potentially signaling a shift in market sentiment.
NYSE:AMC
by Sherlock_1987
1
AMC Approaching Decision PointIn the run up to the January 2021 squeeze, AMC struggled to get above the Daily (red) and Weekly (green) triggers. However, in the few days right before, those resistance points collapsed. Each trigger fell with a gap-up and accelerated price action to the upside. And each time the triggers turned from resistance into support and the next trigger fell. AMC might be playing out the same process, though on a longer timeframe. AMC has currently bested the Daily and is creeping toward the Weekly. If upside price action is to continue, I expect a gap-up over the Weekly and a run to the Wave 3 target range, then a drop back to retest the Weekly. The craziest scenario in the short term is a run above the Monthly around $40 and a quick collapse back to the Weekly around $20. However, I think it will be more restrained and methodical with quick, unexpected breakouts until it finally conquers the Monthly. This will almost certainly shadow GME as it squeezes over the next several months.
NYSE:AMCLong
by fizzleblam
1
AMC pumps price and volume into fair value zone LONGAMC is on a 4H chart with a set of VWAP bands overlaid In the past two trading sessions price and volume have pumps and so also the PV Trend indicator. There is no fundamental footprint on this move. it is a pure meme much like a similar move of GME. I will go long here hoping to ride the momentum and capture profit. I will set a stop loss fo 10% n recognition of the volatilit The final target is the $ 120 range pivots of April and August 202. The initial target is the $35 range of the ranging zone of August 2023. Upon reaching the first target I will cut the position to 50% for the leg higher. I will cut the position if momentum fades especially if the volume fades with it. This will be interesting at the least and highly profitable at the very most.
NYSE:AMCLong
by AwesomeAvani
6
On AMC: 4-hour Chart AnalysisAfter observing the bear channel, a measured move of 4.03 has been identified. Key observations: Support coincides with EMA 50 at 4.03. Fibonacci retracement indicates support at 0.786 (4.03), a FIB historically favored by AMC. A notable bounce occurred at 4.00 during after-hours trading. Bullish: Holding at 4.03: If AMC maintains above 4.03 and subsequently breaks and confirms the 20 EMA at 4.35, a bounce towards the Golden Pocket zone (4.63 to 4.80) is likely from the recent downtrend. Retracing to the 0.786 level at 5.04 and reclaiming the channel could establish a more favorable outlook. Potential Downside: Failure to close above 4.86 could signal rejection from the bottom of the bear channel, potentially leading to further downside. In the event of failure to hold around current levels, a rapid decline to 3.75 to 3.50 is conceivable. Other Considerations on the 1 hour Chart: Oversold RSI suggests a possible reversal. MACD showing early signs of upward movement. Bullish divergence noted in MFI If we do get some type of Squeeze scenario, my target is around that $18 dollar level to exit my calls.
NYSE:AMCLong
by Sherlock_1987
1