Original Alert went out on November 15, 2021.

All the bad news in the world has been thrown at it, and yet here AMC stands right around $40.  It hasn’t broken down into the single digits as so many “smart” investors have been hoping for. The short interest is high and the stock is finding strong support in the upper $30 range for the last 2 months.

As I get ready to trade this, I think AMC will likely pull back to around $38 as a test.  I would love to get an entry there.  From there, my stop will be a break below the $35 level (closing below there, not just touching it). 

If I am right however, I think a move near $48 or higher could happen soon.  

Call it a “wedge” or “coil” pattern, this stock looks like it is ready to break the hearts of those who have been betting against it, once again.