AMC - New cycle initiated?

13 may 2024

AMC looks like it will go onto a gap-filling rampage over the coming weeks and months.

I have highlighted all gaps (red lines) that need to be filled from $3.00 to $37.00.

I would expect AMC to get to hit anywhere between $6-9.36 before a reversal back to $3.00 then a new bull run.

Long term Trendline: it appears both GME and AMC have broken their 3-year downtrend and started a new cycle.

Volume: Lots of new volume entered today and the first for a couple of years. Confirmation of a reversal.

Charts don't look like much, but provides clear targets AMC could take out in the neat future.

13 ago 2024

Nota

Well AMC has taken out 3 of my 5 targets.

The target above $11.77 sits at $37.

Given the current rotation AMC is getting ready for a significant move.

Based on historicals, there may be one more move lower before we target $37, but the ideal scenario is to see $37 from where we are now.