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$AMC Entertainment (AMC.US)$ AMC reached the floor at sub 20...
$AMC Entertainment (AMC.US)$ AMC reached the floor at sub 20s, after the double bottom around 25 had taken place. This favors a bullish momentum taking place and AMC reversing back to 27 before facing resistance. AMC will either breakout and golden cross after 27 and get to at least 33+. or AMC will be rejected at about 27 and have another gap down. If AMC rejects at 27 it would be bearish and likely dip to 19.79, if that happens it would dip as low as 12 from previous support. A dip to 12 is very likely if 19.79 is reached due to the double bottom gap down rule. However, bullish momentum favors more bullish momentum and it is very possible AMC continues to gap up after 27 instead.
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Betterthangold : I think AMC is going to level out around it’s actually value. The high prior to May was around $33. I don’t think AMC’s value currently exceeds 2018-2019 so $29-31 seems realistic, but if the market takes off after the first of the year, who knows.
Trading Tradesman OP Betterthangold : depends on support levels. Wallstreet bets may wanna get involved again too who knows