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AMC CEO on $230M cash raise: 'time for AMC to go on the offense again'


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AMC Entertainment Holdings forecast: AMC breaking key $12.22 support level


5/24/2021 9:23:28 AM GMT
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By Ivan Brian
AMC sitting on key support at $12.22
AMC shares have had a sharp rally.
#AMCSqueeze no longer trending on Twitter.
AMC shares are looking to start the week on a cautious note after last week s stellar gains saw AMC close the week struggling to hold those gains. AMC exploded out of its triangle formation and unfortunately just failed to breach the strong $14.54 resistance. Now AMC shares are clinging to support at $12.22 and looking likely to break lower. This is a key support level. 
Just in case you are not too familiar with the whole GameStop and related meme stock saga, here is a little recap of the story so far from AMC s point of view. AMC is a global cinema chain and, as a result, has struggled during the global pandemic as most of these cinemas have been closed for the better part of a year. The company narrowly avoided bankruptcy through the interest of retail ....

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