!!!! Not Financial Advice !!!!! AMC seems to be forming a reversal wedge pattern. This would fall in line with the earnings report for Q2 being released next week. Given the jump in share price from May to July this should indicate an increase in equity netting off some losses the company may have had. The pattern shows a possible scenario within the next 2 weeks if it plays out. I will keep everyone updated as we go along.
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AMC Earnings released just as expected with so much more news. Great to hear that some of their losses has been netted off due to the increase in equity and currently have 1.2$bn in liquidity to play around with. On top of that, Adam has mentioned that they will be accepting BTC at first and looking into other cryptos meantime, concerts, Sports (UFC) & partnering up with GME for gaming events. Acquisition of Quantum and Blockchain company, executives to hold shares till Q4 & the opening of another 10 theatres. Overall very positive news, I am more bullish on the chart and waiting for the pattern to play out.
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Chart is still following the predicted pattern, and my analysis for the next 2 weeks is still on track. 1st week soon coming to a close. BNY just bought 1.48 mill shares. Everything is starting to add on to the bull effect.