AMC Entertainment Prints Bullish Patterns Ahead Of 'Taylor Swift: The Eras Tour' Release: What To Watch
Portfolio Pulse from Melanie Schaffer
AMC Entertainment Holdings, Inc (NYSE:AMC) saw a 5% spike in its stock, continuing a six-day bullish streak ahead of the release of 'Taylor Swift: The Eras Tour'. The concert film has already brought in over $100 million in worldwide advance ticket sales. AMC is currently trading in an uptrend and is possibly setting up a cup-and-handle pattern. However, a pullback is expected as the stock hasn’t retraced since Oct. 3. The stock has resistance above at $12.22 and at $14.68 and support below at $9.90 and at $8.51.
October 11, 2023 | 5:51 pm
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AMC's stock is on a bullish streak ahead of the release of 'Taylor Swift: The Eras Tour'. The stock is trading in an uptrend and is possibly setting up a cup-and-handle pattern, indicating a potential rally.
The news of the upcoming release of 'Taylor Swift: The Eras Tour' and the advance ticket sales it has already generated is likely to have a positive impact on AMC's stock. The stock is currently on a bullish streak and is trading in an uptrend. The formation of a cup-and-handle pattern, a bullish signal, suggests that the stock may rally in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100