5/20/2021 1:49:00 PM GMT | By Ivan Brian AMC shares fall nearly 4% from the open on Thursday. Shares of the embattled theatre chain are close to a break of the key $12.22 support level. AMC one of the few stocks down in a positive market. Update May 20: AMC shares are under pressure straight from the open on Thursday as the stock has dropped nearly 4%, trying to break the key $12.22 support. This is key to the bullish trend we have seen recently in AMC. Breaking $12.2 also breaks the 9-day moving average and moves AMC into a more neutral zone. The sharp move up had seen momentum oscillators Relative Strength and Commodity Channel Index show overbought levels on Tuesday. AMC shares are just hovering below the key support at $12.19 at the time of writing, down 3.4%.