AMC looks to have found a floor at these levels. It’s a high demand stock has a lot of shorts. This is the longest floor amc has been in, in a while. And CEO came out and said Retail owns the float. So the downward pressure has to me mostly shorts. Which this long floor it’s possible this could be a Wykoff Accumulation method to break out of this supply and demand zone. Which right now is a 30% percent just to break the top of the chart. If it test and continues to the next resistance area that a 100% increase in price. Wykof accumulation charts I’ve seen in the past happened in times where the stock, or crypto is under a lot of downward pressure mixed with a lot of talk about upward pressure. If there’s people wanting that upward movement and technicals also have reasons to move the price upwards, the chance of this being a Wykoff accumulation is very high from the info I gather about it.
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