$AMC Looks Prime For A Reversal

22 Oca 2020

AMC is showing all the signs that a trend reversal is imminent. The descending wedge pattern has remained intact since its inception with the third (and final?) touch reacting perfectly to the structure. Volume has also been picking up recently and RSI on higher timeframes are signalling a bullish divergence. Of course, there is always the fear that earnings and news may ruin the bullish reversal, but from a purely technical perspective it looks as though AMC has bottomed out for the foreseeable future.