AMC Price Update – AMC Must Hold $20.00 to Prevent Panic Selloff

AMC DAILY CHART– Prices rallied from $1.92 to $72.62 in just 5-months. Most retail traders have a buy-in price above $15.00, and their profits are dwindling quickly. It’s easy to HODL when everyone sees green – it gets much harder when those numbers turn red (trust me).

 

In overview, as novice traders see their 2020 profits turn into losses, they may begin to panic. Prices dropping below $20.00 within the next 48-hours to 72-hours could initiate a cascading selloff. If prices don’t hold $15.00, they could reach $10.00 quickly.

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For regular updates, please visit here.