Why has AMC been down?
AMC Entertainment's stock price plummeted after the company prepared for a stock conversion. This event might have caused uncertainty among investors, leading to a sell-off. AMC Entertainment's stock took a significant hit after a court approved the company's APE share conversion plan. One of the reasons for AMC's stock drop was due to share dilution resulting from the APE conversion.
How to Make Money
-65% in a week is irrational, from $35.56 to $12.40.
-It is likely we see an upside, as confirmation of $10.50 support level is proven based on previous bounces from 2020 - 2021 leading up to the huge squeeze to our current price of $393.63.
AMC Entertainment's stock price plummeted after the company prepared for a stock conversion. This event might have caused uncertainty among investors, leading to a sell-off. AMC Entertainment's stock took a significant hit after a court approved the company's APE share conversion plan. One of the reasons for AMC's stock drop was due to share dilution resulting from the APE conversion.
How to Make Money
-65% in a week is irrational, from $35.56 to $12.40.
-It is likely we see an upside, as confirmation of $10.50 support level is proven based on previous bounces from 2020 - 2021 leading up to the huge squeeze to our current price of $393.63.
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$16.50 Price Target #1!
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Likely to retest $10
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WAITING FOR LEG UP
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Be patient
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Be patient... If you haven't noticed, selling pressure slowing down as expected.
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possible trend change?
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needs to close above 8.40
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9.11 - 10.71 FVG
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fvg looking to get fully filled then go from there
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gap filled
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Slight cooldown as expected
Would like to stay above 9.10
Would like to stay above 9.10
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Would like to get above 11.20 to make break previous highs and potentially gap fill to $13.24