Waves Count And Tips AMC Entertainment Stock
Waves Count And Tips AMC
Entertainment Holdings Stock
In my opinion, AMC Entertainment Holdings
stock (AMC) was negatively impacted by the Covid 19
pandemic. The question now is will it recover
from it.
From the perspective of the Elliott wave
trader, if one can accept that there was a trend
on the monthly chart, then the structure of April
30th 2015 to 31st December 2020 is a flat correction.
Please feel free to disagree with my waves count.
If one also accepts that it is a flat correction, then is it too
soon or premature to call the daily chart price-action
from 1st January to 27 January 2021 the first wave?
As one can see, this is a bit speculative waves count
because all those questions.
However, at this juncture, one can only work with what
one has. Right? I mean one step at time.
All in all, it is normal to expect an impulse or X-wave
or even a fully fledged motive wave (trending phase) after
that flat correction.
Note that that expectation will only take place if the financials
start to improve or gradually point to the prior AMC's good
times. I am talking about the revenue growth.
Therefore, a prudent wave trader ought to keep eyes on both
the Elliott wave structures and financials. Alright?
One may say that these are just pending (waiting for
confirmations) Elliott wave count tips.
Financials Price Targets
The first and easiest price target at the time of this
recording is $13.79. Already taken.
Provided that things begin to work altogether well for
AMC Entertainment Holdings, the next (more ambitious)
price target is $35.04 according to my calculations.
There is also another long term price target, very greedy
one at $79.56. That is a tall call as things stand today.
So it is for the long term and patient investors.
In my opinion, if the price establishes a reliable support
above that $13.79; and the market sentiment for AMC
is smiling, the price can run very fast.
In the end, it all comes down to the revenue growth
after the pandemic stops bashing AMC stock all over
the face.
The fight between the bulls and bears is on for now.
Really, the bulls want to keep it above that $13.79 but
bears will be delighted to push it down all the way to $6.00.
Who will win?
That is a very good question, and I am glad you ask it.
In the long term, as long as AMC Entertainment is doing
everything to fight off or discourage the short sellers then
the bulls will have the upper hand.
However if that expected progress is dragging its feet then
the bears will be laughing all the way to the bank. I can
not blame them. Can't I?
Full Disclosure
As always, I hold a very handful number of AMC stocks
in my calculated risky investment account for a short
to medium term purposes. I reserve the rights to add
more to my current holding or to come out it completely
without a prior warning.
Please do not use this video as an invitation to buy or
sell this popular AMC Entertainment Holdings stock.
Compare your waves count to mine, and do your own
due diligence. That is best way forward.
Let's quickly map out the chart before I wrap it up.
So, this is just about Waves Count And Tips
AMC Entertainment Holdings Stock
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Post your suggested financial instruments that you want
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