1. price contraction is building up. ( wedge pattern )
2.inflation and bond yield event has been observed by the market.( bad times are gone)
3. festive season is about to come. (+ve for entertainment industry)
4. 100 EMA support is visible as seen is past.
one should wait for the breakout.
AMC's stock price corrected drastically after reaching all-time highs.
The bearish shark pattern correction seems to be completed and the hurdle is to break the trendline with huge volumes bouncing off of the demand zone.
The idea is neutral because there is a chance for collapse also. The breakdown below the demand zone completes descending triangle pattern....