$AMC looks like it's headed for another low. I could see the potential for AMC to rally up to the $8.30ish region, but if price rejects that range or just falls here, it increases the likelihood that AMC will fall from here back to the $2 range.
The bottom of the blue channel structure has already been tested multiple times and has weakened support. If it breaks the bottom of the channel price should decline quickly-- back to the $2.72 area.
Be careful if you're long.
The bottom of the blue channel structure has already been tested multiple times and has weakened support. If it breaks the bottom of the channel price should decline quickly-- back to the $2.72 area.
Be careful if you're long.
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Welp... to all the people that laughed in the comments, hope you enjoyed holding all the way down.
Now do yourself a favor and learn how to read charts so you don't make the same mistake again.
Now do yourself a favor and learn how to read charts so you don't make the same mistake again.
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The worst part is, this could still go lower. I have sell signals on the weekly and two week charts. Maybe we get a pop over the next month or so, if it happens, I'd use that opportunity to get out.
Maybe penny stock status? Bankruptcy? We'll see...
Maybe penny stock status? Bankruptcy? We'll see...
1. Can't read the analysis where I said there's a possibility of a short term rally (which already played out).
2. Can't read a chart.
Set tight stops.