AMC printed a beautiful bull flag at the close today, bringing this higher after hours towards its 100% Fibonacci Extension level, price point being around $36.20. As long as we can hold this area as support, the next fibonacci zone would be between $36 and $57. As shorts cover, I expect this to be nothing less of parabolic as this new zone acts as support for the next wave move towards $57. Watch for this level, and be prepared for a minimal pullback near those levels. Until then, I expect tomorrow to bring us at least near $45, and with the stock offering being announced today, it definitely brought some negative sentiment that was reflected in the price action today.
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