Since November, AMC CEO Adam Aron has sold more than $40M worth of stock and looking at the technicals it's no wonder - chart is riding the downward parallel channel and appears to be heading down to pre breakout levels $15 then $12.
Expect a few pops along the way, but with institutions and the executives dumping on retail, not much bullish MOMO in this stock... for now
Expect a few pops along the way, but with institutions and the executives dumping on retail, not much bullish MOMO in this stock... for now
Note
Wow over -8% in a day, not even a bounce ! Looks oversold to me, take profits and wait for next pop to short :) Nice Trade !Note
with the low of 14.23 today I would be taking profits as first PT is hit :) Wouldn't be surprised if bulls rally soon here to squeeze the shorts before we see more downside.
Note, a break of the down trend resistance line with confirmation invalidates the short thesis and PT $12
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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.