I see the potential for a W-bottom breakout towards $32.00 if AMC sustains a breakout above $21.00.
Failing to recapture $21.00 in March and dropping below $12.90 could have devastating consequences.
AMC Daily Chart Analysis
Bullish: I see the potential for a W-bottom in AMC, with a potential target near $32.00 upon a confirmed breakout above $21.00.
Neutral: Failing to breakout above $21.00 and slipping below $16.00 would support more sideways consolidation.
Bearish: Failing to breakout above $21.00 and dropping below $12.90 would activate our $5.00 price target.
Note- AMC would have to stay above $21.00 for three trading sessions to confirm a bullish breakout.
AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For regular updates, please visit here.
AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle that will begin to unravel in 2020.
