AMC Update

AMC has officially crossed above the very long term trending resistance. This is a bullish notion. Another bullish aspect about AMC is the fact that it's price is breaking out above this very long term descending wedge pattern like you can see in the picture directly below.

AMC's Price is near a short term resistance as you can see below highlighted by the yellow line. You might find some investors taking profit here. It is possible we could see a small pull back in price at this resistance level.

In the very short-term time frame AMC is a bit overextended to the upside. The past three daily candles is what some investors call "three white soldiers." This terminology came from a time when candlesticks were black instead of red or white instead of green. Three white soldiers is a bullish candlestick formation. Basically the lows from each candlesticks are higher than the highs from the day before. You should always expect investors to take profit from time to time. but AMC is starting to look very good on the long term and short-term outlook.