Expecting volatility this week and next

Jan 14

AMC is currently testing the macro resistance for the 4th time.

The stock is currently getting pinched between the Bollinger Bands.

RSI is oversold on all timeframes.

In 2021, AMC started making moves after MLK day.

Hell of a lot of options expiring on Friday.

Impossible to say if it will be a bullish or bearish move considering everything we've seen with this stock. If it does reject this macro resistance again, AMC is hitting 0$ at the end of the month/start of Feb.

(White dotted lines are just historical support and resistances I'm keeping an eye on)

Jan 19

Note

Bounce off the macro resistance to establish support.

+12-13% since the bounce.

Ending the week just above 4.50.

Beautiful cup and handle on the hourly as well.

Bullish.

Jan 26

Note

Not exactly the amount of volatility I was expecting after breaking over such a strong resistance line.

AMC got a higher high and a higher low on the weekly compared to last week's ATL.

The stock bounced off 4.07 a total of 5 times this week, dipping to 4.06 for a brief second before closing the week.

Overall volume is steadily decreasing:
Last week (4 day week): 76.58M on +6% stock price
This week (5 day week): 60.6M on -15.5% stock price

I'll probably give this Idea another week to develop. If the stock wants to retest the resistance next week, it's lining up like it'll pretty much have to hit 0. Let's see what happens over the weekend and over the course of next week.

Feb 4

Note

Still haven't seen the movement I was expecting. In fact, this was the LEAST volatile week in AMC's history, and every week is less and less volatile right now.

This doesn't mean I don't expect a big move coming up (spring loading), but I could see us having to wait until earnings to see that unfurl.

Or potentially even until March 11 when the Bank Lending Program ends.

AMC is not going bankrupt, I only see it as a Deep (Fucking) Value play.

Optimistic about earnings despite the writers' strike and the lack of movies in theatres. We'll see.

Till then, go see a movie, buy some popcorn, chocolate and merch, use your AMC credit card and support your company.