Potential falling wedge breakout on AMC
AMC is currently forming a falling wedge on the daily and weekly charts. With earnings coming next week, there could be a possible catalyst for a move to higher prices.
As you can see, the wedge is coming to a close. Bulls may start buying if they see AMC as undervalued and bears could start covering their shorts since this would be a good place to take profits for them. After that, AMC will start feeding on itself and move higher.
Could we possibly see a high 3 breakout? Probably something worth keeping an eye on over the next couple of weeks.
As you can see, the wedge is coming to a close. Bulls may start buying if they see AMC as undervalued and bears could start covering their shorts since this would be a good place to take profits for them. After that, AMC will start feeding on itself and move higher.
Could we possibly see a high 3 breakout? Probably something worth keeping an eye on over the next couple of weeks.
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