Failing to recapture $21.00 in March and dropping below $12.90 could have devastating consequences.
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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.