AMC looking to retest some areas
AMC looking to retest 9s maybe even 10s depending on how earnings fomo and overreactions go. not any kind of advice just an observation and a personal reasoning of why im long at low 7's and holding for 9s-10s at a minimum with a stop at 5.50.
1st AMC has a bag of cash from share sells in january.
2nd AMC is opening 25% capacity in NY and more and more of nation opening up.
3rd AMC has a viable option to pivot to streaming, networks, or even event hosting spaces.
4th all of the above are better off than where they are at today and been at for the last few months.
5th and final, the chart speaks. The TA says it all... uptrending momentum, macd, volume, price. Cant believe earnings will be so bad with 300 mil cash on hand this time around.
1st AMC has a bag of cash from share sells in january.
2nd AMC is opening 25% capacity in NY and more and more of nation opening up.
3rd AMC has a viable option to pivot to streaming, networks, or even event hosting spaces.
4th all of the above are better off than where they are at today and been at for the last few months.
5th and final, the chart speaks. The TA says it all... uptrending momentum, macd, volume, price. Cant believe earnings will be so bad with 300 mil cash on hand this time around.
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