Half a billion shares outstanding It appears that AMC is stuck within multiple channels that I have color-coded. We have two golden channels of support and one massive downward channel of resistance. The black channel is significantly weaker because of the shorter timeframe but is angled at a very steep decline. Please zoom in to see how the price movement has respected all of these channels heavily and then zoom out to see how long they have been respected for. I used to be super bullish on this for a long time but have sold all of my position a few months ago and am now 100% Gamestop. AMC's CEO and CFO dumping nearly all of their shares is not bullish and anyone trying to spin this as bullish is just a massive bagholder. TeChNiCaL aNaLySiS DoEsNt WoRk On AmC. Um yeah it does, this is bearish.
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