Why We Are Super Bullish On AMC Stock (AGAIN)

Why We Are Super Bullish On AMC Stock (AGAIN)

Ooohhh man, who is PUMPED for AMC right now? As of close, AMC stock finished at $13.95, trading 7.5% higher. As of this writing, the stock is up another 11% after hours. This level of pumpage (just beginning) brings back great memories of the first mega pump, where I caught a 700% move on AMC in 1 week. BULLISH. You can check out that article, where we predicted the move with surgical precision here. And guess what…we are making another prediction on AMC stock!!!! GET EXCITED. Let’s see what the “news” is today and why this could be a monster trade. We will analyze the technicals and make an AMC stock prediction below, so read all the way to the end to find out why we are SUPER BULLISH on AMC Stock (again).

What Happened With AMC Today?

As you know if you have been reading long enough, I just get really excited about a stock and it goes up…a lot. Before I start babbling bullish nonsense, let’s see what the boring people have to say first.

According to Yahoo Finance:

AMC, which was hit especially hard by COVID-19 lockdowns, is one of a group of heavily shorted so-called meme stocks — including GameStop (GME) and Bed Bath and Beyond (BBBY). Retail investors active on Reddit have bought up these stocks in an effort to force short sellers to buy them, as well to cover their losses — driving the companies’ stock prices even higher…

The gains come after the movie theater chain was hammered by a global pandemic that resulted in a $4.59 billion loss in 2020 compared to $149 million the year prior. Recently, though, CEO Adam Aron suggested that AMC fared better than other movie theater chains…

During a call with analysts after reporting its first-quarter results earlier this month, Aron said its market share had “soared” by 25% compared to pre-pandemic levels. 

Ok, so in summary, the boring people are saying Reddit is fueling this rally and there are some bullish headwinds for AMC, considering it has taken a huge chunk of market share.

Accurate! See you on Mars.

Ok, Now the Real News

Now that we got the bland obligatory mainstream financial news out of the way, let’s analyze what is really going on.

My previous article on AMC predicted that there would be a domino effect on heavily shorted stocks fueled by the “Wall Street Bets” crowd. Yes, the core WSB Redditors were betting primarily on GameStop, but a very large portion jumped onto the heavy short squeeze plays.

And the AMC pump was born.

And guess what…it may be that time again.

Of course, the Reddit crowd has its hands all over this again. But the reality is…the AMC chart is actually just strong.

Quite strong.

That’s the secret sauce. The chart, always play the chart!!!

Why We Are Super Bullish On AMC Stock (AGAIN) AMC Stock Prediction

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The “Chart”

So what about the chart? Why is it super bullish?

We will save the 5 minute chart for the conclusion, it is important. Let’s first check out the daily and quarterly.

Yes, the quarterly chart…bet you never even thought about that one. But I did, and you are going to love it!

Daily chart:

Why We Are Super Bullish On AMC Stock (AGAIN) AMC Daily Chart bullish breakout

This daily chart is a DEAD GIVEAWAY that the stock is still crazy bullish. If it was not, AMC would have been back to $3 or less.

But it is not! The stock has stayed in this range for months, making higher lows. Slowly making its way higher…until today.

As of the after hours price today, AMC has made its first “higher high” since the bull run started.

DEAD GIVEAWAY!!

Slow, steady upward consolidation. Find these types of charts and you will make infinite amount of money.

As a result of this upward incline consolidation, AMC is a top stock pick for the next parabolic

Now for the most exciting part…the quarterly chart.

Why We Are Super Bullish On AMC Stock (AGAIN)

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Why We Are Super Bullish On AMC Stock (AGAIN). AMC Stock Prediction

AMC Stock Quarterly Chart

And now for the main event!

Let’s see what is behind door #3!

Why We Are Super Bullish On AMC Stock (AGAIN)

So this is an EXTREMELY RARE chart. One would describe this as a “quarterly breakout.”

AKA the MACD on the quarterly chart is about to tick positive (green).

That is ultra hyper mega bullish, especially considering the amount of time it took for it to get to this level.

As you can see the ascending move higher on AMC is represented on this chart. The MACD is probably the most important indicator that I have ever found. And this chart screams BULLISH on a QUARTERLY timeline.

Usually stocks are entering an uptrend on a daily, weekly or monthly time frame. AMC is bullish on a QUARTERLY time frame. Super rare, like a PSA 10 Charizard.

Apologies for the rambling, but moral of the story…quarterly breakouts are very bullish.

Essentially, this means that dip buying is extreme, and will most likely continue for AT LEAST 1 full quarter (3 months). Probably more, given the right conditions.

Now that we have all of this information, let’s make a prediction.

AMC Stock Prediction

Ok, see we saw the reasons behind the pump from Yahoo Finance, combined with a few charts.

In sum, we predict that AMC is entering a strong quarterly uptrend.

Theoretically, this means that dip buying will continue for the next 3 months, current conditions being equal.

Conclusively, there are 3 main reasons for my bullish thesis on AMC stock.

  • Strong daily, weekly, monthly and QUARTERLY charts.

This has been explained above. No need to explain further. But if you would like clarification, just message me on twitter: @Parabolic10x.

  • WSB crowd is pretty excited about it…again. In fact, AMC is trending on twitter…again. Unbelievably reminiscent of January 2021…

Bullish!

  • Finally, we are in the midst of the “reopening trade.”

We alluded to this in our article on Tesla a few months ago (yes, we predicted it in the article titled “Nio and Tesla Stock Are Plummeting, Is the EV Bubble Over?” because this is not our first rodeo), that the parabolic moves of the 2020 Bull Market are working in reverse (turned out to be true) and now the stocks with severely depressed prices involved with “reopening” are on the up and up.

As a result, stocks like AMC, who runs the biggest movie theater chain will benefit.

Awesome!

Where are going? See Fibonacci calculator below:

Now, you might think I am crazy with these price targets, but let’s put things into perspective.

The entire world has gone completely insane, in society and particularly the stock market. Look at the parabolas of the last year, they are just as insane as everything else.

So, to keep a long story short, this Fibonacci calculator basically says that AMC is headed much higher.

If these calculations are correct, the first stop is back to the all time high of $36.

Once that is cleared, probably a nice dip back to reality, then strong dip buying along the primary moving averages. Until we reach the 100% Fib Extension…which is $70.

Sounds crazy, but people thought my $36,000-$63,000 fib extensions on Bitcoin and $1 on Dogecoin were crazy as well…

And these basically played out for the most part LOL (doge is still in the uptrend, probably on its way to $1).

So I would predict that AMC is headed to $36, $71, then the moon/Mars ($125) within the next four to 8 quarters.

Laugh if you want…but it is possible.

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