Hovering around the 38.50 and 37.50 level for the past 4 weeks AMC seem to break below the triangle and the 50% Fibonacci line. The trading volume is also dramatically reduced it reached 29% of the current average trading volume. This is about 16% of the trading volume in August, which was at 176,000,000 shares a day. As I said before in order to drive the price up the Ape Army needs to buy the stock with a trading volume in excess of 100 million shares for at least two days. But that just brought us to $52 in September. Thats it.

Interesting to see that an upwards pointing wedge sees a breakout to the downside.

I hope AMC will drop to 30 so that I can cash in my puts.