Without securing price action above $60 during the pending upside swing, AMC faces a very steep drop below $10, more likely to find support near $5. Considering the trending upside move and its 3 wave structure, this eliminates the possibility of AMC being in true impulsive form.
Note
upside corrective (B) wave seems to have completed already in all likelihood.AMC could be on its way to sub $5.
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An update on AMC's precarious scenario:Note
Any takers on this stock sinking below $5?Note
flush out!Note
How much could you have saved during this 50% drop?Trade closed: target reached
new ATH likely to come for AMC. decent buy zone.Order cancelled
Update: AMC is likely due to see new all-time lows in the weeks ahead. Formation doesn't speak to any upside before then.
Decode the wave, anticipate the move.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Decode the wave, anticipate the move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.