AMC Entertainment
Long

Looking for a huge upside break early next week on AMC stock

399
AMC has major resistance at the 19.60 - 20.00 level. Based off the rounded bottom pattern that we have formed, we are now approaching a downtrend resistance line. This downtrend resistance has been sending AMC to lower lows since the $40 level. Once this downtrend resistance line breaks ($20), we can expect a violent move to the upside back to $40.

The next resistances after $20 are $23, 26 and 32.

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