AMC - The Last BottomI've left this chart as big as possible so you can play around with it and see what I see as much as possible.
We're bouncing off the $3.00 resistance level.
There's one more resistance below us.
$2.50. Anywhere much below that and we reach another new all-time low.
Considering we're on a bear rally (no consistent higher-highs and higher-lows in months - greatly part to capitalizing on whatever bull rally available by offering shares to reduce debt)
But considering AMC doesn't plan on offering new shares soon and the stock price is threatening to hit new all-time lows: the stock will have to decide whether this is the last bottom, or if the company is worth less than ever.
I could see a retest of the the 2.50 range. After all, every single time we've hit a bottom, we've hit it again and then dropped even lower.
There just needs one time where the stock can bounce fro an all-time low and go past "old lows".
The price popped above the 200EMA on the 4-hour chart in May of last year, which led the stock to soar from 3.57 to 13.30 in a matter of a couple candles.
I'm still waiting to see the price get pinched between the 200EMA on the daily chart (5.56 right now) and the bottom (2.40 right now).
Earnings could be a catalyst. Some Trump decision could be a catalyst. Ken Griffin having a heart attack could be a catalyst (I don't wish any pain on anyone, but some deserve what's coming more than others). It doesn't matter.
AMC is making leaps towards being a profitable business and the spring can only be wound so tight.
