Volume: high
Candle: slightly bullish
9 d ema: a hair above
Action details:
On 26DEC25, attempted to go higher on volume of 23M. On 02JAN26, attempted to go higher on volume of 38M. The increase in volume on the 2nd attempt (02JAN26) suggested the next attempt would be on even higher volume. On 09JAN26, it was.
There has been quality volume from the hammer candle on 02JAN26 onward. Above the upper trendline of the downtrend channel. So, could be a bull flag within an A-B-C up.
Looking more like a sideways consolidation. Even that will be sufficient for a jettison of the channel. Should have done better on FRI since it was monthly options expiration.
As predicted in my last several posts, it is doing something else - either consolidation or uptrend.
Its trading very technically and has been for awhile.
Up on a flat day for stocks and a mixed day for it's competitors (CNK, CPXGF, & IMAX.)
Per 31DEC25 FINRA data, the shorts on AMC have gone up significantly since the last FINRA report.
Not expecting any significant rally (as in getting over 2.50) until the next earnings report which will be in FEB26.
News is that AMC will authorize up to a $150M in share sale on 02FEB26. That would increase the float by more than 20%. That could send the share price down, at least at first. The additional shares will help reduce the control the big shorts have, but the impact on reducing the control of the big shorts is limited since the share dilution is so extreme.
https://preview.redd.it/jm7yqtafsdeg1.jpg?width=2491&format=pjpg&auto=webp&s=725df5cee8866d61aa45aa7a31e4195e60a83133