When in doubt zoom out. AMC stock is seeing massive consolidation in the $55 range. Despite the heavy shorting, the monthly chart has never looked healthier.
We got a glimpse of what AMC Entertainment’s stock looked like at $70+ per share weeks back. But when will we hit $100 per share? And is it on the horizon?
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Community, you already know that the $100 range is not a squeeze. This is merely fundamental movement due to heavy buyers and technical chart patterns.
A squeeze will be violent. With that said, I want to go over some of the technical analysis Trey has recently put out.
Next level of resistance
We saw a small pullback from the $60 range down to about $54-$56. We’re now looking for the stock price to test above $56 where it will bounce up to the high fifties, low sixty dollar range.
According to Trey, the next level of resistance could be in the high sixties to low seventies after a clean break of about $63.
This technical analysis is seen through the data presented by a Fibonacci Retracement.
What is a Fibonacci Retracement?
A Fibonacci Retracement is the technical data in a chart that indicates where support and resistance levels are very likely to occur.
This chart shows every possible level of resistance and can predict the pullback levels as well as the next level of gains.
Is a Fibonacci Retracement reliable?
This technical setup has allowed TA’s (technical analysts) to gain insight when swing trading a stock. This chart view has also helped Trey communicate to the community AMC’s possible price action whether it be any type of pullback or rip.
The Fibonacci Retracement has been very helpful thus far and continues to be the technical setup to determine the next possible moves.
Raising the bar over $77
Trey expresses that once AMC’s stock price reaches a new all-time high above $77, we should experience a clean move passing $100 per share.
This is a great video for both new apes and seasoned apes to get a glimpse of that $100 range. And Trey, sending positive thoughts out to you brother. Keep taking care of your health.
That it’s coming up, it’s coming up. Retail investors must continue to hold the stock in order to claim $100 per share. The community has the power to claim the stocks price.
If a stock is bullish, it’s because its shareholders make it bullish. As long as the community continues to play offense, AMC’s stock price will fundamentally continue to surge.
So, how soon will we see $100 per share?
This is really going to depend on when we cross that resistance level of $63 or so. Crossing this amount will trigger the push for next level around $70 that will further take AMC’s stock price past $100.
I understand shorts continue to short the stock. This is the primary reason why AMC Entertainment is consolidating.
Them attacking the upticks only validates just how bullish this stock is. The funny thing is they’re losing money every day. While short attacks might slow the progress down, they can’t prolong the inevitable.
Before you think of selling at $100
Don’t be a paper hand Portnoy. Or else…
LMAO, if you don’t know what I’m referencing that’s okay. Remember that AMC Entertainment hasn’t squeezed yet. I understand everyone’s financial situation is different.
However, the road to $100 per share is all going to be fundamental. The community is in this for a short squeeze. Many of us are already up several gains, but we continue to hold the stock.
There’s more money in my accounts than there has ever been but I don’t have the slightest excitement to cash in. Why? Because shorts haven’t even covered. And I know this is majority of the communities sentiment.
What hodling can mean for you
Holding your stock means you own AMC Entertainment, the company. You truly are an owner of this gigantic century old business.
Your shares are your tickets to that world you keep envisioning. Don’t forget why you got in the first place. All great things take time, so be patient. Blessings are coming for all.
Except hedge funds, they’re totally screwed.
Continue to spread the message
I have to say, I’m extremely proud of my Discord community. Apes here are sharing great DD amongst each other. Our new members are always learning something new.
Here’s a personal invitation to the Discord if you’re not a member yet. AMC with Frank Nez is a safe environment for retail investors to learn about AMC and and get their voices heard.
If you found this article to be helpful in any way, shape, or form leave me a comment below. I’d love to hear from you.
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