The AMC price chart looks ominous, and prices must hold $20.00 to remain near-term bullish. A sustained breakdown below $20.00 could trigger massive stop losses and a 50% plunge.
I assign the following odds to the next 3-months of price action in the AMC chart below:
*Bullish Breakout above $35.00 (30%)
*Neutral consolidation between $20.00 & $30.00 (30%)
*Bearish Breakdown below $20.00 (40%)
AMC chart
Note- If prices collapse below $20.00 in the coming days, downside follow-through below $15.00 will support the worst-case scenario and panic selloff to $10.00 or lower.
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.
